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And just when all the pundents were saying that Brussels couldn't do it.
E.U. Details $957 Billion Rescue Package
E.U. Details $957 Billion Rescue Package
BRUSSELS European leaders, pressured by sliding markets and doubts over their ability to act decisively, agreed on Monday to provide a huge rescue package of nearly $1 trillion in a sweeping effort to combat the debt crisis that has engulfed Europe and threatened markets around the world.
Officials are hoping the size of the program a total of $957 billion will signal a shock and awe commitment that will be viewed in the same vein as the $700 billion package the United States government provided to help its own ailing financial institutions in 2008. The package represented an audacious step for a bloc that had been criticized for acting tentatively, and without unity, in the face of a mounting crisis.
Officials are hoping the size of the program a total of $957 billion will signal a shock and awe commitment that will be viewed in the same vein as the $700 billion package the United States government provided to help its own ailing financial institutions in 2008. The package represented an audacious step for a bloc that had been criticized for acting tentatively, and without unity, in the face of a mounting crisis.