Eurozone ministers fail to create €1 trillion bail-out fund

[dipsydoodle]

Source: Daily Telegraph

Eurozone finance ministers have failed to sanction measures to create the bloc's crucial €1 trillion bail-out fund – despite warnings that Europe is dangerously ill-equipped to cope with the financial and economic crisis enveloping Italy.

Despite publishing a more detailed mandate following a summit in Brussels, the Eurogroup delayed agreeing specifics on how to leverage the €440bn European Financial Stability Facility (EFSF), risking further market turmoil ahead of votes on Tuesday that could topple Silvio Berlusconi's government.

Read more: http://www.telegraph.co.uk/finance/financialcrisis/8875427/Eurozone-ministers-fail-to-create-1-trillion-bail-out-fund.html