Financial Times (December 17)
2010/ 12/ 19 by jd in Global News
With preliminary agreement on a permanent crisis mechanism, the EU has finally moved “to avoid future crises.” The permanent mechanism is not quite a done deal. The pact would take effect in 2013, following approval by EU leaders in March and then by the EU’s 27 member states. In the meantime, however, market concern remains centered on the ability of EU states and banks to attain adequate debt financing, a potentially explosive issue the EU has continued to dodge. The Financial Times believes these immediate concerns must now be addressed. “Europe will only be able to enjoy tomorrow if it first deals with the problems of today.”
Tags: Banks, Crisis mechanism, Debt, EU
