BERLIN - German Parliament finally approved the addition of bailout funds threshold. They set up 440 billion euros, equivalent to $ 600 billion. Thus providing hope that countries in the eurozone can survive the debt crisis.
This decision reinforces the choice German Chancellor Angela Merkel bailout funds to add borders, and enhance its ability to negotiate new steps European crisis solution.
Meanwhile, many investors and the experts believe, the new measures will be needed in Europe. For example, let Greece eliminate more debt, and German approval was necessary to avoid a new attack in a major market turmoil.
Head of the Federation of German Banks, Michael Kemmer said the support of the Bundestag is an important step to stabilize the euro zone. "With that, they have set the program to exit from the debt crisis," Kemmer said as quoted by the Associated Press (AP), Friday (09/30/2011).
Fund 440 billion euros, equivalent to $ 600 billion will be able to buy government bonds to the bank and then loaned to the government before they are in a massive crisis.
The market seemed more calm even before the voting began. In fact, before the market turmoil triggered by the great uncertainty over the position of Germany in the procurement of the bailout funds. Euro currency also traded slightly higher.
Germany, which pays part of Europe's biggest bailouts, a member of the 13 euro zone to support the expansion of the rescue fund. The group called the European Financial Stability Facility or EFSF. Boundary expansion request a bailout from Cyprus and Estonia also released yesterday.
Austrian Parliament is also expected to complete perform calculations on the bailout today. While the Netherlands is expected to approve a similar thing in the first week in October
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