Three-pronged rescue plan being floated before EU meetings

European negotiators are floating a proposal to establish two separate rescue funds to complement enchanced support for the International Monetary Fund in addition to existing plans to draft stronger budget rules for the euro zone.

According to the Financial Times, the goal is to create an enlarged “financial firewall” and would fill the gap that might be created when the European Financial Stability Facility (EFSF) winds down.

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