Emergency Bailout: A Short-Term Game Changer

May 2010
Emerging Markets Monitor;5/17/2010, Vol. 16 Issue 7, p1
Country Report
The article discusses the emergency rescue package for the euro currency coordinated by the European Union (EU), individual governments, the International Monetary Fund (IMF) and the European Central Bank (ECB). The bailout worth 750 billion euros will be funded through government-backed loan guarantees and bilateral loans. Under the bailout, the ECB has agreed to start purchasing sovereign debt on the secondary market. It relates the significance of the rescue package for Greece to the possibility of a global liquidity crisis.


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