New Euro Bailout Fund Won’t Solve EU Debt Crisis

European finance ministers are hailing the new euro bailout fund, the European Stability Mechanism (ESM), as a defense against the ongoing European debt crisis, but it looks unlikely to solve the region’s economic challenges. While a heftier package than its predecessor, the ESM will probably be short of sufficient funds to deal with major bailouts on the horizon and overlooks key economic problems that Europe is struggling with.

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