Far from apocalyptic prophecies: the euro zone will be able to overcome the crisis during 2012. This is the opinion of Wolfgang Schaeuble. In an interview with the German business daily Handelsblatt, the German Finance Minister acknowledged that "the problems in some countries are particularly big" and that a solution will only be possible "in the long term". But, he added, "in the next twelve months we will succeed in eliminating the dangers of contagion and we will succeed in stabilizing the eurozone".
Schaeuble then launched a new appeal realization as quickly as possible of the Permanent Esm Fund (European stability mechanism), which will replace the current European stability fund (EFSF, European financial stability facility) starting from mid-2012. L'ESM will have an effective financing capacity of 500 billion euros and a fully subscribed capital of 700 billion, of which 80 billion will have to be paid by the member countries of the Eurozone.
