Outcome of the EU finance ministers meeting

© Scanpix/AFP

EUministers of finance  are discussing the prospects of the EU in Brussels. The meeting was organized after the announcement that the EU is very short of time to take action towards crisis resolution. The outcome was expansion of the EFSF to be capable to provide bailout funds if economies as Spain or Italy need them. The leaders also agreed on allowing the EFSF to secure losses investors might experience while purchasing sovereign bonds.