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European finance ministers reach agreement on the details of a permanent rescue fund - the ESM -...

Mar. 21, 2011 2:52 PM ETFXE, ERO-OLD, EU-OLD, URR, ULE, EUOBy: Stephen Alpher, SA News Editor
European finance ministers reach agreement on the details of a permanent rescue fund - the ESM - of €700B. It will replace the existing €440B EFSF in January 2013. An injection of €80B in capital will be used to raise the remaining €620 through a debt sale.

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