Wall Street Journal
March 14, 2011
European finance ministers will meet here Monday and Tuesday to discuss the fine print of a deal covering the euro zone's bailout funds after the currency area's leaders vaulted low expectations to secure a crucial agreement early Saturday.
Following a rancorous discussion, the leaders agreed to expand the euro zone's current bailout capacity to €500 billion ($694.9 billion), the figure leaders originally promised last year, from just over €300 billion now. They also pledged to establish a new €500 billion permanent bailout fund in 2013.
That, together with most of the rest of the agreement, had been resolved by finance ministers in recent months or widely previewed. But two fresh details were particularly noteworthy.
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