May 10, 2010
European officials on Monday took steps to tackle the widening sovereign debt crisis that has destabilized the Continent.
Just hours after leaders agreed to provide nearly $1 trillion as part of a huge rescue package, central banks began buying euro zone government bonds directly on Monday — an unprecedented move to inject cash into the financial system.
Officials were hoping the size of the rescue package — a total of $957 billion — would signal a “shock and awe” commitment to such troubled countries as Greece, Portugal and Spain, in the same vein as the $700 billion package the United States government provided to help its own ailing financial institutions in 2008.
More
No comments:
Post a Comment