EU agrees permanent eurozone rescue fund
EU leaders have agreed to set up a permanent mechanism to bail out any member state whose debt problems threaten the 16-nation eurozone.
The eurozone stability mechanism will require a change to the EU's Lisbon Treaty, which has been agreed. The permanent mechanism will succeed the 750bn-euro (£637bn; $1tn) temporary bail-out fund, the European Financial Stability Facility (EFSF) in 2013.
British Prime Minister David Cameron supported the move, but insisted that the UK would not
Matthew Price reports.
17 Dec 2010