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Is eurozone bailout boost big enough?


brussels bureau

Is eurozone bailout boost big enough?

Have eurozone finance ministers done enough to strengthen Europe’s emergency firewall? Efforts in Copenhagen saw leaders unveil a fund of 800 billion euros aimed at ring-fencing the bloc’s most troubled economies.

The EU Commission had called for more money, around 1 trillion euros, though that proved too big for Berlin. Germany’s money master Wolfgang Schauble, resisting the larger increase.

The hope now, is that the long-awaited deal will pave the way for the IMF to add its own financial firepower, particularly when lingering doubts over the single currency’s weakest members persist, notably Spain. Madrid recently announced an austerity package totalling 27 billion euros.

To get more on this euronews’ Raquel Garcia Alvarez spoke to Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development. To see the full interview, click on the link above.

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