POL 333 Journal 14 - one of a two stages process where bail...

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Financial Times Plans for fiscal rescue mechanism move forward European Union November 10, 2010 This article is discussing the process that is going on right now in the European Union to  create a permanent rescue fund for the nations that are not able to service their debts.  This plan  passed through the European Union because there is a scare that more nations are going to need  to receive bailout money because of their debts.  The process going on now is trying to get all of  the details worked out on this project.  How exactly it will work and the process the countries  that want money will have to go through.  Since Germany is the leader and basically the creator  of this idea the Finance minister gave an outline of what it might look like.  The idea he gave was 
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Unformatted text preview: one of a two stages process where bail out money would be granted and if that didn’t solve the problem debt reconstructing may be considered. This article shows the drastic steps the European Union is going through trying to get a handle on the debt crisis that is going on. Many different steps are being taken in order to make sure the overall well being of the dependent European economies and the euro is good. The plan for this rescue fund passed through the EU fairly quickly and that shows the members of the EU are cooperating with each other very well, at least in terms of economic issues....
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