Prevent Crisis Spreads Greece, the EU Prepare Dana M. USD670.

Monday, May 10, 2010 - 9:02 pm

Reporting BRUSSELS - The European Union finally agreed on an emergency fund amounting to 500 billion euros or equivalent USD670 billion to protect the euro zone countries from the financial market wolfpack.

As quoted from the 'Reuters', on Monday, December 10 mei 2010. decision deals a substantial emergency fund can be taken in order to prevent the spread of the debt crisis go on and Greece.

As is known, that the euro currency last week plummeted to its lowest point during the last 14 months against the dollar. But now, the euro climbed almost two percent in early trading in Asia, and on trade in the U.S. rose by two percent.

While the price of gold, regarded as a safe haven investment, fell by 1.5 percent after touching a record high last week.

Where the European Union plans to take out a loan in the form of loan and loan guarantee fix the value of 600 billion euros, or USD805 billion. Where is the loan guarantee for a loan of euro zone countries worth 440 billion euros, which amounted to 60 billion euros from the stabilization fund and an additional 100 billion euros of funds from the International Monetary Fund loans (International Monetary Fund / IMF).

Market mechanism seems to threaten members of the eurozone countries that have debt will suffer the same fate as Greece. Safety net intended to protect other countries that have swollen budget including Portugal, Spain and Ireland.

Greek and addressing the crisis, the IMF has approved meminjaman 30 billion euros, bringing the total funds collected for the bailout Greece mencapaui 110 billion euros. Where for 5.5 billion euros will be disbursed immediately. I hope this information is useful to you. (otofinanceinfo)