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Will Europe's new bailout fund really pack a €2 trillion punch?

By Quartz Staff


A link from Reuters

The European Stability Mechanism (ESM) is supposed to have €500 billion ($650 billion) available to use to prevent European collapse when it goes into effect next month. However, if it were leveraged the same way as the old bailout fund, it could actually provide €2 trillion worth of firepower, according to a new report from Der Spiegel. Typically, Finland’s putting up a fight.