EIB skeptical about recovery of Eurozone crisis within two years
The European Investment Bank (EIB) is doubtful about the recovery of Euro zone from its debt crisis within the next two years. As per the Bank the pressure on the European member state to settle the situation will remain for a longer time.
The bank, however, believes that the political framework to tackle with the crisis could improve within the next two to three years. According to the head of the bank, EIB which has been the European Union’s long-term lending source should not be considered as a panacea for the Euro zone crisis.
Very recently the European summit agreed to boost the EIB’s capital by euro 10 billion by the end of the year 2012, enhancing its lending capacity by euro 60 billion to assist stimulate the European economy.
Month: Current Affairs - July, 2012
Topics: Debt crisis • Economy • Economy of the European Union • EIB • Euro • European debt crisis • European Investment Bank • European Union • Eurozone • Financial crises • Government debt • Multilateral development banks