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EU to evaluate ESM in March

Date: Thursday 02 Feb 2012

EU to evaluate ESM in March

European Council president Herman Van Rompuy has said that EU leaders will discuss the size of the European Stability Mechanism (ESM) fund at their next summit meeting on March 1st-2nd.

European leaders gave the final approval to the terms of a €500bn ESM, the Eurozone's permanent rescue fund, which will be implemented on July 2012, one year earlier than originally scheduled.

Van Rompuy assured that this permanent fund, which will replace the European Financial Stability Facility (EFSF), will help boost confidence and assure solidarity and financial stability in the Eurozone.

J.M.

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