Q&A: EU crisis mechanism

Published

The EU has agreed to set up a permanent mechanism to avert Greek-style financial crises in the eurozone, in its biggest monetary reform since the euro was introduced in 1999.

An outline of the mechanism, which includes a permanent rescue fund, was presented to a summit of EU leaders in Brussels on 28 October.

Two of the EU's biggest states, Germany and France, proposed taking the plan much further - too far, in the opinion of some.

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