BERLIN (MNI) – European Financial Stability Facility (EFSF) head
Klaus Regling told German parliamentarians on Friday he still expects
that no Eurozone country will need to tap the emergency fund, a lawmaker
told Market News International here.
The EFSF head today briefed the members of the committee on EU
affairs of Germany’s lower house, the Bundestag.
“Regling judged the additional consolidation measures planned by
Ireland, Portugal and Spain as positive,” said the lawmaker who attended
the committee meeting. “He is still confident that there will be no need
for the emergency lending facility to be used.”
Regling himself declined to comment upon leaving the committee
meeting.
The E440 billion EFSF was created earlier this year by EU leaders
to assuage markets at the height of the Eurozone’s sovereign debt
crisis. It would provide emergency loans to EMU states that get into
financial trouble and have no other recourse.
Along with a pre-existing fund of E60 billion and another E250
billion pledged by the International Monetary Fund, the total available
for that purpose would be E750 billion.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MT$$$$,M$G$$$,M$X$$$,MGX$$$,MFX$$$,MX$$$$,M$$FX$]
