Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
EU doubles fund for emergency lending to eastern members
+ -
21:52, May 05, 2009

 Related News
 EU plays down need for further stimulus amid shrink forecasts
 Eurogroup chief warns of social crisis over unemployment
 EU records 2.3-billion-euro trade surplus with Canada in 2008
 EU, Japan to cooperate on new emissions reduction deal
 EU economy forecast to shrink 4% this year
 Comment  Tell A Friend
 Print Format  Save Article
European Union (EU) finance ministers agreed on Tuesday to double the fund for emergency lending to eastern European members to 50 billion euros (67 billion U.S. dollars).

Under the agreement, the ceiling of the EU's financial support facility will be raised from the current 25 billion euros (33.5 billion dollars) in the light of the economic and financial crisis.

"The increase is intended to cater for potential new demands from member states for medium-term support to their balances of payments," the finance ministers said in a statement on the sidelines of their monthly meeting in Brussels.

The ceiling of the facility, which was designed to help EU member states outside the euro zone stabilize their economies, were already doubled in December to the current amount.

But Hungary drew 6.5 billion euros (8.7 billion U.S. dollars) from the facility and Latvia used 3.1 billion euros (4.2 billion U.S. dollars) last year, while Romania is seeking 5 billion euros (6.7 billion U.S. dollars).

With more and more members in Central and Eastern Europe running into financial and economic trouble, there is a call for the EU to have more funds ready to provide emergency aid.

EU leaders agreed in principle at a summit in March to double the fund again.

Source: Xinhua



  Your Message:   Most Commented:
Jackie Chan's 'freedom' talk sparks debate
Bias or information gap
China denies intruding into U.S. electrical grid
Obama shows his smart power
Calf born with two noses

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90865/6651552.pdf