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Firewall Top-Up Signals Eurozone Expects Crisis to Worsen
Last week, the Eurozone finance ministers voted to increase the “firewall” rescue fund from 500 billion euros ($667 billion), to 800 billion euros ($1.07 billion). The fund was established last year to ensure money was set aside should another European sovereign nation require a bailout. For the cynical, this move may be seen as a signal that Eurozone officials expect things to get worse in the coming months. Certainly, the recent status of the economy gives little reason for optimism. In fact, the Eurozone economy is stalling so badly that some analysts believe the Eurozone is already in a recession. The latest ... (full story)
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