European Commission Green Paper on the feasibility of introducing Stability Bonds - Official Version
Brussels, 23 November 2011
European Commission Green Paper on the feasibility of introducing Stability Bonds
Secure the decline of the Greek debt to GDP ratio with an objective of reaching 120% by 2020. Euro area Member States will contribute to the PSI package up to 30 bn euro. The nominal discount will be 50% on notional Greek debt held by private investors. A new EU-IMF multiannual programme financing up to 100 bn euro will be put in place by the end of the year. It will be accompanied by a strengthening of the mechanisms for the monitoring of implementation of the reforms
German Chancellor Angela Merkel's ruling coalition closed ranks Thursday in passing a bill to reform the euro-zone bailout fund without having to rely on votes from opposition parties, according to parliament voting results.
A total of 315 lawmakers from Ms. Merkel's coalition of Christian Democrats, Bavarian Christian Social Union and the pro-business Free Democrats voted in favor of the bill to expand and reform the European Financial Stability Facility. Thirteen coalition lawmakers voted against the bill and two abstained.