Euro States Unveil Debt-Fighting Tool in Face of ECB Criticism
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European finance ministers announced new steps to fight the debt crisis, running into European Central Bank criticism for doing too little to prevent budget shocks from threatening the euro.
Finance chiefs settled on how to enable a permanent rescue fund to lend 500 billion euros ($710 billion) as of 2013, while remaining divided over how to get the current stopgap fund up to its full capacity of 440 billion euros.