Markets rebounded on news that the EU and IMF have agreed a bailout fund for crisis-hit eurozone nations. EU commissioner for economic and monetary affairs Olli Rehn (pictured) said it, "proves that we shall defend the euro whatever it takes".
"In the short term markets will be reassured"
the International Monetary Fund (IMF) in marathon weekend talks, was the largest in more than two years since G20 leaders threw money at the global economy following the collapse of Lehman Brothers.
Eurozone heads of state agree to create stabilisation funds
EU Monetary Affairs Commissioner Olli Rehn told a news conference the package "proves we shall defend the euro whatever it takes".
tracking the euro zone debt crisis
- Greece exits bailout: there are still "long time challenges Greece needs to address"
- Merkel and Macron: Can they compromise to push EU reform forward?
- New finance minister is "worst case scenario" for Greece
- Yannis Koutsomitis: "Harsh austerity measures are needed in France to withstand upcoming tax wars from UK"
- Greece debt relief: Eurozone reaches deal on 10.3 billion euro bailout plan
- Greek crisis spreads to banks - June 17th (part 2)
- Greek crisis spreads to banks - June 17th
- Greek crisis, the contagion (part 2)
- Greek crisis, the contagion
- Fresh tumble of fresh debt concerns
- My big fat Greek bailout - but will Europe pay? (part 2)
- My big fat Greek bailout - but will Europe pay?
- Athens seeks second EU bailout
- Lisbon bailout: blessing or burden?
- Portugal enters bailout talks with EU and IMF
- EU integration: has Germany fallen out of love with Europe?
- EU finance ministers to discuss bailout package for Portugal
high as $1.2950 before slipping back on the ECB decision to buy debt. It was changing hands at $1.2915 at 0520 GMT.
Date created : 2010-05-10