EU will create a stabilization fund of 500 billion euros

Summit of the euro area agreed on the establishment of permanent stabilization fund, the European Union in 2013, are available for borrowing whose assets amount to 500 billion euro EU President Herman Van Rompuy also noted that EU leaders agreed to increase the assets currently in force, the European stabilization mechanism, which was created for the period until 2013. Its available for lending to troubled countries in the euro area assets will be expanded from 250 billion to 440 billion euros, according to ITAR-TASS. Foundations of the mechanism provided by the eurozone countries, which was originally made up 440 billion euros, it will have only 250 billion could be used to provide practical financial assistance to its neighbors. The remaining 190 billion euros were to be stored as reserves necessary to ensure the best interest rates in attracting loans in the financial market. Recall, to date, assistance from the fund receives Ireland. As for Greece, which became a source of last year's crisis, the euro, which gave impetus to the establishment of the stabilization mechanism, then it operates a separate European aid program.