Desperate Eurozone to borrow BILLIONS to fund Greece rescue amid fears of crash
184 views · Published 10 January 2017 · 2:24 · Indexed 26 October 2026
Channel: Real Thing TV · 2017 · News & Politics
Desperate Eurozone to borrow BILLIONS to fund Greece rescue amid fears of crash THE eurozone's bailout fund is borrowing tens of billions so it can fund a rescue plan for Greece, amid fears the country's debt crisis could once again send shockwaves through the bloc. The Luxembourg agency responsible for doling out rescue money - the European Stability Mechanism (ESM) - is turning to markets to raise the extra cash needed for the Greek debt relief programme. The ESM is now issuing €57billion (£49.5bn) in long-term bonds - up 14 per cent from original plans - to cover the bail-out programme.
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