The European Stability Mechanism (ESM) on Wednesday gave green light to Greece's 86-billion-euro bailout package, following lawmakers in several member states nodded to the plan.
Eurozone finance ministers late Thursday agreed on the main features of a mechanism to allow the European Stability Mechanism (ESM) to directly inject capital into failed banks.
After the Cyprus Crisis, some experts called for the euro zone to establish a banking union as soon as possible in order to rescue the bank directly, but Professor Markus Kerber, founder of the German think tank Europolis, said, to achieve this strategy, Europe should first clear up the larger problem banks, otherwise it will face hidden dangers.
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