Call for Gold Reserves as Collateral in EU
Source: DPA (8/24/11)
"A leading member of Chancellor Angela Merkel's government called for EU members to use gold reserves as collateral for future bailouts."
A leading member of Chancellor Angela Merkel's government called on Tuesday for cash-strapped eurozone members to use their gold reserves as collateral for any future bailouts.
Labour Minister Ursula von der Leyen said in the future that money from the European Union-led rescue fund should only be paid out when the states receiving the assistance provided collateral. . .View full article