Interest rates up sharply on rescue plan news

Posted May 10, 2010 at 10:05 a.m.

Associated Press | Interest rates surged in the bond market Monday after European leaders and central banks around the world agreed to rescue measures to help stem growing debt problems in Europe. European Union leaders and the International Monetary Fund agreed to a nearly $1 trillion aid package that will help weak European countries like Greece that are facing mounting debt problems. The U.S. Federal Reserve is also making loans available to central banks in Europe that can then loan the money out to financial institutions in their countries.

Get the full story: Interest rates up sharply on rescue plan news.

Read more about the topics in this post: ,

Comments are closed.