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Eurozone countries meeting in Copenhagen have agreed to boost the permanent financial firewall that is to guard against future EU debt crises from EUR 500billion to more than EUR 800million, according to a statement from the eurogroup.
As was previously promised, the ESM is to be composed of EUR500million, with finance ministers agreeing that the temporary EFSF fund will run parallel to the ESM. With the funds already provided for Greece, the final figure for the firewall reaches just over EUR800million.
