Euro countries to build $1.1-trillion bailout fund, Austria saysMarch 30, 2012 - 16:47 AMT PanARMENIAN.Net - Austria's finance minister says the 17 euro countries will build a €800-billion ($1.1-trillion) financial firewall against their debt crisis, though €300-billion of that has already been used for previous bailouts, AP reported. That gives the euro zone some €500-billion in fresh money to help debt-ridden countries. Maria Fekter said Friday, March 30 that the figure should send a convincing message to financial markets and the euro zone's international partners that the currency union can contain its two-year old debt crisis. Ms. Fekter said some €240-billion in money left in the euro zone's existing, temporary bailout fund will remain available until mid-2013. However, she said that money should only be available until the new permanent bailout fund has been built up to its full €500-billion capacity. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |