The Economist Corner – essential readings VII

Charlemagne’s notebook

The euro crisis 

 Europe’s 750 billion euro bazooka.  May 10th 2010, 12:26 by Charlemagne

AT two in the morning on May 10th, European Union finance ministers agreed a huge increase in their political will to defend Europe’s single currency, backed by a stunning €750 billion in aid for weak links in the 16 member eurozone. Simultaneously, the European Central Bank took a revolutionary shift away from its inflation-fighting mission, announcing a scheme to buy up government bonds on the financial markets.