In crisis talks over the weekend, EU finance ministers and the IMF agreed emergency measures worth €750bn to try and prevent contagion from the Greek debt crisis affecting other countries in the eurozone.
The 16 members of the eurozone will have access to €440bn of loan guarantees and €60bn of emergency European Commission funding to help with "difficulties caused by exceptional circumstances beyond their control". Meanwhile, the International Monetary Fund (IMF) will also contribute up to €250bn as part of a last ditch attempt by finance ministers to defend the euro. The BBC reports the UK has a very limited exposure to the package, and has not participated in the bulk of the deal. Central banks across the globe also moved to back the plan with the ECB announcing it would buy euroz...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
