European Union finance ministers have agreed on the setup of the European Stability Mechanism — the permanent euro zone bailout fund. Following are their decisions put together in a “term sheet” on the ESM, which is to replace the existing fund – the European Financial Stability Facility (EFSF) — in mid-2013.
The agreement, reached on Monday, is expected to be approved by EU leaders at a summit on March 24-25……………………………………….Full Article: Source