European Leaders Agree to a Permanent Crisis Fund
Dec-16-2010--BRUSSELS - Despite deep differences over how to contain their continuing debt crisis, European Union leaders agreed Thursday to create a permanent support fund for the euro after 2013 -
something they hope will be a first step to calming the markets.
As leaders of the 27 countries that make up the European Union gathered Thursday for a two-day meeting in Brussels, the seriousness of the euro's plight was underlined by events in beleaguered euro-zone
The new body, known as the European Stability Mechanism,
will take over in 2013 from the existing 440 billion euro, or $582 billion, bailout fund.
Changes to Lisbon Treaty necessary, says EU Parliament chief
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