Thursday, 29 September 2011

Germany OKs EU Rescue Fund Increase, Setting Stage for TARP Euro-Style

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Today the German parliament voted overwhelmingly, 523-85, to increase the size of the European Financial Stability Fund (EFSF) from $335 billion to $600 billion, and to allow it to purchase sovereign bonds, lend to profligate governments, and strengthen banks hurt by holding risky government debt. 

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