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Recommend "AP" - Leaders OK bailout funds, coordination (Email)

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Associated Press

March 24, 2011

http://chronicle.augusta.com/news/business/2011-03-24/european-leaders-approve-plan-debt-crisis

BRUSSELS --- European Union leaders gave final approval early today to a raft of new measures they hope will contain the debt crisis that has rocked the continent for more than a year.

 "I think today we reached a real breakthrough," European Commission President Jose Manuel Barroso said just after midnight.

Leaders signed off the size and powers of its current and future bailout funds and closer economic coordination. They had already nailed down the cornerstones of their "comprehensive solution" to the crisis over the last weeks. But they left some details, including how to ensure their existing bailout fund can actually lend out the promised 440 billion euros, for later meetings.


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