European Stability Mechanism

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Euro Zone Launches Bailout Fund ... Just in Case

Spain says it doesn't need it yet

(Newser) - The Euro zone officially launched its 500 billion euro bailout fund today, but finance ministers said that its first intended beneficiary, Spain, didn't need help just now after all. "Spain needs no aid program," German Finance Minister Wolfgang Schaeuble told reporters. "Spain is doing everything necessary,... More »

German Court Backs Euro Rescue Fund

Decision boosts euro, global markets

(Newser) - Germany's high court has rejected calls to block the European Union's permanent rescue fund. The much-anticipated ruling, which boosted global markets, paves the way for the fund's ratification by Germany's president. Germany's ratification of the European Stability Mechanism, a bailout fund created to prevent the... More »

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