Europe is increasing the volume of the financial stability fund.

30.09.2011 To fight with the prolonged crisis all the European forces are thrown. The western powers have launched a mechanism of increasing the volume of the European Foundation for financial stability. Assets have increased from 440 billion to 780 billion euro. Germany has decided to make the major contribution to the fund, confirming its strong economic position.
For the benefit of the fund increase program France, Austria, Belgium, Finland, Luxembourg, Greece, Ireland, Spain, Italy and Slovenia voted. However to initiate the work it’s needed to get approval from the Netherlands, Portugal and several other states.

Expert’s opinion

“A positive aspect is that the European powers can invest a lot of money in such an important institution as the foundation of financial stability. Germany demonstrating the stability of its economic and political system takes a large part in this financing. Filling of such a fund will be life-saving source of funds if the crisis does not retreat in the near future, especially as European banks at the moment have some problems”.

On the basis: www.vedomosti.ru

Andrianova Irina ( The lawyer of international consulting department of “Honest & Bright” )