Today and tomorrow is the EU economic summit of 27 Euro countries.
The European leaders agreed to establish a fund called the European Stability Mechanism, which will start at less than 40 billion euros of capital. Nonetheless, the EU economic summit ended sans any substantial resolutions on bailout funds mainly in regards to the Irish bailout.
Portugal’s rating is keeps on falling, and yet since there wasn’t any official request for a bailout, one hasn’t been provided by the EU bank.
For more on this subject:
- Is Portugal next in line for a bailout?
- Oil prices forecast – 25 March
- Gold & Silver Prices Outlook –25 March