Eurozone rescue fund introduced
The eurozone's new permanent fund to bail out struggling economies and banks has been formally launched at a meeting of finance ministers in Luxembourg.
The European Stability Mechanism (ESM) will have a full lending capacity of 500bn euros (£400bn; $650bn) by 2014.
It will initially run alongside, and then eventually replace, the European Financial Stability Facility (EFSF).
Chris Morris reports.