European Union premiers and presidents have agreed to a surgical change to the bloc's treaty to enable the creation of a permanent bail-out fund from 2013 but have left the size of the existing fund unchanged.
"The member states whose currency is the euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a whole. The granting of any required financial assistance under the mechanism will be made subject to strict condition...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login