Summary Box: Eurozone boosts financial buffers

AP News
Posted: Mar 30, 2012 2:08 PM
Summary Box: Eurozone boosts financial buffers

EMERGENCY FUND: The 17 countries that use the euro have boosted their emergency funding for debt-troubled countries to (EURO)800 billion ($1.1 trillion) _ an amount that falls short of what the currency union's international partners had said is needed.

PARTLY USED: Of the (EURO)800 billion, which finance ministers agreed Friday in Copenhagen, only some (EURO)500 billion is still available. About (EURO)300 billion in loans have already gone to bail out Greece, Ireland and Portugal.

IMF'S OPINION: The International Monetary Fund and others have called for a financial "firewall" of more than (EURO)1 trillion in case Spain and Italy needed assistance.