Debt Crisis: EU Leaders Set to Announce €750 Billion Spain and Italy Bailout Deal
Wednesday, 20 June 2012 09:29
Posted by David Icke
'Under the proposed deal, two European rescue funds – the 500 billion-euro European Stability Mechanism (ESM) and the 250-billion euro European Financial Stability Facility (EFSF) – will be able to buy bonds issued by beleaguered European countries.
Previously, money in these funds – which has been provided by members of the single currency – has been used to bailout smaller European countries such as Greece, Portugal and Ireland. Governments in these countries are offered money direct in return for agreeing to austerity programmes.'
Read more: Debt Crisis: EU Leaders Set to Announce €750 Billion Spain and Italy Bailout Deal
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