Euro Relief? en Spain, Italy to receive bailouts from euro zone rescue funds The plan, proposed by Italy, would permit the temporary European Financial Stability Facility (EFSF), which currently has a lending power of about €350 billion, and the new European Stability Mechanism (ESM), which has €500 billion to purchase individual countries' bonds, something which Merkel had previously opposed.<p><a href="" target="_blank">read more</a></p> Euro Relief? World Leaders Business Debt Crisis Europe Germany Politics Italy Spain United Kingdom Wed, 20 Jun 2012 17:36:00 +0000 Talia Ralph 5708663 at