By Alan Wheatley – The euro zone is finally getting a move on and slinging a safety net under the single currency. If only it were making as much headway in correcting the economic imbalances that made a rescue plan necessary in the first place.
The European Central Bank has bought time for the euro with a scheme for secondary-market purchases of bonds of countries such as Spain if they are shunned by investors. And the European Stability Mechanism is set to buy the debt as it is auctioned, after Germany‘s top court approved the establishment of the permanent rescue fund. Immediate market pressure has subsided. more> http://tinyurl.com/8nk2lhu
- EZ Finance Ministers Meet to Decide ECB Purchase Conditions (forextv.com)
- More Relief for Euro as German Court Gives OK to Bailout Fund (business.time.com)
- WRAPUP 1-Spain urged to clarify aid needs at euro zone meeting (uk.reuters.com)
- The euro crisis:…
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