Propping Up The Euro
Published / Last Updated on 20/02/2011
Propping Up The Euro.
During the EU Summit at the beginning of February, it has resulted in an agreement on how to stabilise the Euro at a time of instability for countries such as Greece and Ireland. All EU member states will now be required to pass their economic plans and budget to the EU by April for them to be reviewed and to issue guidance to the individual states by July on how their policies should be amended, where necessary.
They will also be imposing penalties for poor performance. The new regimes aim is to reduce deficits and control borrowing and will be known as The Stability and Growth Pact.
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