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Eurozone countries sign bail-out fund treaty

03.02.12 @ 09:40

  1. By EUOBSERVER

A treaty establishing the European Stability Mechanism, eurozone's permanent bail-out fund worth €500bn, was signed on Thursday by representatives of the 17 euro-countries. The ESM will be an international financial institution based in Luxembourg lending money to troubled eurozone countries. Its firepower is likely to be increased in March.

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