EU Begins Rescue Revamp

European finance chiefs start work today on a revamped debt-crisis-fighting strategy with Germany easing its opposition to an expanded arsenal and Portugal insisting it will get by without an aid package.

Germany, the leading power in the 17-nation euro region, is eyeing a March deadline for bolstering the 440 billion-euro ($585 billion) rescue fund, drawing up a permanent aid facility and rewriting the bloc’s budget-deficit rules.

A rising euro and successful bond auctions in Portugal, Spain and Italy offered a respite last week from market pressure for steps that go beyond the emergency aid program and the European Central Bank’s unprecedented bond purchases.


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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell