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EU doubles guarantees to aid in crisis

brussels bureau

EU doubles guarantees to aid in crisis


European Union members are looking at more support for their crisis-hit economies.

At a summit in Brussels, the heads of state and government also agreed to put five billion euros of EU money into energy infrastructure development, and offered the IMF 75 billion euros more, suggesting other majors follow suit. Czech prime minister mirek topolanek whose country currently holds the EU presidency said: “The garanties for countries which have diffculties with the balance of payments have been increased to 50 billion euros. That is a doubling of the amount available — from 25 to 50. If there is a need to help a country which is particularly hit by the crisis, now there is the possibility to do so!” The EU leaders have called implementing existing economic recovery plans ‘vital’. This is preparation for an April 2 G20 meeting which is intended to conceive a plan to haul the world economy upright.

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