New York Times
March 11, 2011
European leaders agreed early Saturday to new measures intended to end the euro zone debt crisis, offering the debt-laden Greece a cut in its interest rate and injecting more flexibility into the way a bolstered bailout fund for the euro can be used.
The deal, which went further than had been expected at Friday’s meeting of 17 euro zone leaders, came after a fierce dispute over corporate taxes, pitting France and Germany on one side against Ireland on the other.
Because of the standoff, Ireland, which like Greece has accepted a bailout from the European Union and the International Monetary Fund, has not been offered a reduction in its interest rate, now about 6 percent.
The early morning agreement came alongside a deal on a pact called for by Germany and France to tighten discipline in the euro zone.
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