The heads of state and governments of the 16 eurozone nations on Friday launched a 110 billion-euro financial aid package to bailout heavily indebted Greece from bankruptcy. They also vowed to fight speculators endangering the stability of their common currency. At an emergency meeting in Brussels, the eurozone leaders expressed concern over mounting pressure on the euro in financial markets. The value of the Euro has fallen on fears that countries such as Spain, Portugal and Ireland could suffer similar problems. The chairman of the euro group and Prime Minister of Luxembourg, Jean-Claude Junker, said at the conclusion of the summit that the leaders agreed on a crisis management mechanism to protect the eurozone from speculators and to prevent the debt crisis in Greece from engulfing the whole euro area. tional News Content
News On AIR | May 8, 2010 1:51 PM
Interna110-bn euro aid to fight the Greek tragedy