A major component of the big new euro zone rescue plan is to substantially increase the European EFSF contingency bailout fund, from 440 billion euros to 1 trillion euros ($1.4 trillion).
The fund would then be a substantial firewall, with the ability to lend money to Italy, Greece and other countries at low interest rates, helping them cover their debts until the austerity measures being imposed bring their debt loads under control.
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