Bundestag supports leveraging of Eurozone rescue fund; Banks make“significant new offer” on Greek debt haircuts
Oct 26th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Bundestag, the German parliament, voted 503-89 today to approve two alternative methods of leveraging or adding to the firepower of the European Financial Stability Facility (EFSF) €440bn rescue fund ahead of summit meeting due to begin late afternoon Wednesday in Brussels. Meanwhile, banks holding Greek debt say they have made “a significant new offer” on haircuts.