Chancellor Alistair Darling is joining other EU finance ministers in Brussels today to sin up deal to rescue tumbling Euro.
As David Cameron was pursuing talks with the Libral Democrats to try to form the government, Alistair Darling was preparing for Brussels after promising to keep his Tory and Lib Dem counterparts, George Osborne and Vince Cable, informed.
EU Finance ministers have been given time until midnight tonight to approve the highly sensitive deal to protect Euro from financial flux caused by Greek debt crisis.
The proposal, called European stabilisation mechanism, was tabled by French President Nicolas Sarkozy. It aims at keeping €60 billion aside to offer bail-out support for countries suffering from financial turbulence like that of Greece.
Some countries such as Britain has so far been objecting to article 122 of the Lisbon treaty in the proposal, which calls for a collective response to natural calamities.
The proposal has already been declared a ‘done deal’ by the sixteen Euro-zone leaders who met on Saturday morning.
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