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Eurozone to pursue crisis action

12-20-2011 13:56 BJT

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European finance ministers are holding a teleconference call on Monday to discuss the draft of a new eurozone "fiscal compact" so that it can be finalized by the end of January next year. The talks aim to further drive for tougher fiscal rules in an attempt to assuage doubts that Europe can overcome its debt crisis.

The EU have agreed to offer 150 billion euros to the IMF to raise its crisis-fighting capacity, they will also consider the size of individual bilateral loans to the Fund in the talks. But the scheme has been doubted by many.

Earlier, Germany’s Bundesbank said it would only contribute if non-European countries also commit to the deal. Britain is also allowed to follow the discussions as an observer, after the country’s veto of a proposed transaction tax.

 

Editor:Zhang Rui |Source: CNTV.CN

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