Economy World

EU: the next summit of the euro area set aside (media)

The summit of leaders of the eurozone, expected on March 2 after the European Summit, is canceled as a result of differences between Germany and other countries in the euro area, announced Tuesday the Western media referring to government sources.

“The summit of the euro area has been canceled,” said a European official, quoted by the media.

At the summit of March 2, leaders of member countries of the euro area were to maintain the increase in resources for financial assistance fund, namely the European Financial Stability Fund (EFSF) and the European Stability Mechanism financial (MES).

The official said, Berlin is reluctant to engage in discussions on this subject.

Currently only the EFSF is effective for financial support for Ireland and Portugal. It should also fund Greece in the second program of financial support for this country.
This summer, the MES should add to the EFSF, which will raise $ 750 billion.

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