EU preparing bigger euro rescue umbrella

Uploaded by EUXTV on 08.12.2010

We have had the opportunity to debate with the ECB and IMF
the ways to resolve the crisis, in the next weeks, months, and longer term
As explained, we have already put in place an ad hoc Council work group
and work has begun to analyze the legislative proposal of the Commission
so, this group is progressing on the propositions for economic governance
At the previous Ecofin meeting, there were ideas floating around on
on a possible new stability mechanism, a definitive crisis management tool
on that topic, the size (amount) will of course be under discussion
regarding this, the EU will likely have to deal with a temporary mechanism
until the introduction of the permanent one in 2013