The bailout fund was set up to support countries in financial straits. MEPs have voted yes to making this crisis measure permanent, and that will require treaty changes.

Green light for permanent bail out fund

https://api.multimedia.europarl.europa.eu/documents/20125/15506500/N001-110323-001-EN.srt

On the eve of a crucial summit on  the eurozone attended by EU leaders,

MEPs said yes, this Wednesday,  to a future European Stability Mechanism.

After 2013 this permanent fund  could come to the rescue

of states that are  under pressure from the markets.

The announcement has reassured  this Portuguese MEP,

When you openly address  the failure of countries and the eurozone

you are making the eurozone  more fragile.

It's not the country, but the euro  itself that becomes more fragile.

The house felt that it was imperative  to send a strong signal to the markets.

The EP is examining six legislative texts  on improving economic governance.

as can be shown by all the regulations  that are awaiting approval.

In the past 18 months we’ve approved  the financial supervision package,

and treaty reform and  we’re approving economic governance.

Europe is demonstrating that  it has concrete answers to its problems.

To make the bailout fund permanent,  the treaties must be changed.

But in the meantime, there is no let up in  the pressure from the markets.

Many experts are now betting on  the debt restructuring

of those states in financial straits,  a worst-case scenario.