The bailout fund for the Euro Zone was launched Monday through the European Stability Mechanism (ESM).
The 500 billion euro Mechanism could be used to aid Spain in the near future.
The European Stability Mechanism has a handy 500 billion euros to help hurting euro zone banks and economies. It is intended to be a key defense for the Euro Zone against a worsening debt crisis.
The European Stability Mechanism (ESM) is an agency said to eventually replace the EFSF (European Financial Stability Facility).
The European Stability Mechanism will be based in Luxembourg and will be an intricate tool for the EU to use as they help their hurting.
The ESM will get the money by selling bonds, the method that governments usually use to meet their borrowing desires.
Stats from BBC News state that some of the contributions to the bailout fund are: “Germany will provide 27% of the capital, France 20% and Italy 18%.”
The ESM will have the ability to give loans directly to individual governments.
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