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Europe Daily Bulletin No. 10620

25 May 2012
ECONOMY - FINANCE - BUSINESS / (ae) economy
Netherlands ratifies European Stability Mechanism

Brussels, 24/05/2012 (Agence Europe) - Dutch MPs voted by a wide majority on Thursday 24 May to ratify the European Stability Mechanism (ESM). This permanent rescue fund is due to come on stream in July and will have an intervention capability of €500 billion. The Netherlands will contribute €4.6 billion in initial capital to the ESM and will underwrite commitments by the rescue fund of €35 billion. Of the 150 MPs, 100 - from the Conservative VVD, the Christian Democrat CDA, the...

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