European leaders are holding a press conference on the “Euro Pact.”
We’re covering live.
You can watch here.
It’s late in Brussels. Herman von Rompuy, President of the European Council, says the European leaders have agreed on a pact that will end the Eurozone crisis.
All member have agreed to fund the full bailout facility.
President Barroso is speaking…
Giving support to Japan.
Talking about the pact. This is really vague. Basically, they’re just reiterating that all the European governments do wish to support each other.
A question on whether the EFSF will intervene in the secondary bond market.
Herman van Rompuy: We have not provided a possibility for the mechanism to intervene in the secondary market. There’s no need.
And that’s it. The two things we learned: No plan to intervene in the secondary market, and Ireland won’t be getting an interest rate discount.