June 29, 2012
Europe summit surprises with bold moves. After 18 disappointing summits since the start of the debt crisis, Europe’s leaders appeared on Friday to have finally come up with quick fixes and long-term plans that show they are serious about restoring confidence in their currency union.
The leaders of the 17 countries that use the euro agreed to:
-Pump money from two European bailout funds directly into troubled European banks later this year, rather than make loans to governments to bail out the banks. The move rescues banks without putting strapped countries deeper in debt. Read more »