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ArtikelPowering Down; The World Economy  
Oleh: [s.n]
Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 404 no. 8792 (Jul. 2012), page 62.
Topik: Financial Crisis; Euro Zone Crisis; Bail-out Funds
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    • Nomor Panggil: EE29.72
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Isi artikelEuropean leaders delivered rather more progress in tackling their interminable debt crisis than had been expected when they met in Brussels on June 28th and 29th. They decided, among other things, to allow the new permanent bail-out fund to recapitalise banks in ailing economies directly rather than via their governments. They also enabled rescue funds to buy the government bonds of struggling countries without imposing such strict conditions as before. The euro promptly rose; stockmarkets regained some vim; the oil price spiked (see later story). Government-bond yields fell in Spain and Italy; they also tumbled in Ireland on expectations that it will gain some retrospective relief from the heavy costs of its banking clear-up. In response, the Irish government decided to raise money by issuing short-term bills on July 5th, its first such auction since 2010.
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