The political fallout remains to be seen, especially in Germany.
The package is expected to involve a quadrupling - from the current projected level of 440bn euros - in the firepower of Europe's main bailout fund, the European Financial Stability Facility (EFSF).
This would be done by putting in place an arrangement that would allow the European Central Bank (ECB) to lend alongside the fund.
The EFSF would take on the main risk of lending to governments struggling to borrow from normal commercial sources - governments like Italy.
Monday, September 26, 2011
Latest Euro Bailout Plan
This one might have a chance to work. 1.7 trillion euros is real money: