The EU will support the euro Stabilization Fund
Baku, December 17 (AZERTAC). Leaders of the EU countries intend to do everything necessary to ensure the stability of the euro zone walking, reports BBC News. At a press conference in Brussels, EU president Herman Van Rompuy said that members of the EU summit, which took place in Belgium, decided to establish a permanent stabilization fund, aimed at maintaining stability of the euro. "Permanent Stabilization Fund EU will be established by 1 June 2013", - said Van Rompuy According to Deutsche Welle permanent European Foundation for the financial stability to replace the interim, a term which just ends in 2013. How much money it should be, has not been decided, but according to reports from Brussels, the volume should be at least 750 billion euros. We also know that Germany is ready to provide financial guarantees worth 120 billion euros. According to the agency AFP, Germany insisted on tightening the rules allocating funds to needy countries to the eurozone. The text says that the crisis mechanism continue to be run only as a last resort, when "it is essential to ensure the stability of European currencies as such." In this case, recipient countries must meet a series of stringent conditions.
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