FRANKFURT (MNI) – Developments in various Eurozone countries have
led the European Union to consider a major increase in the funds
available to the European Financial Stability Facility (EFSF), German
daily Die Welt reported on Thursday.
“In view of the most recent currency turbulence surrounding
Ireland, Portugal and Spain, there are deliberations in the EU about
distinctly reinforcing the euro rescue fund,” the paper’s website said.
Currently, the EFSF has up to E440 billion in funds available.
However, the European Commission is proposing to double this level, Die
Welt said. Still, at least one contributor to the EFSF was reported to
be opposed to the idea.
“Germany, as economically strongest member of the community, at
least for now is rejecting the plans, it seems,” the paper added.
— Frankfurt bureau; +49-69-720142; email: frankfurt@marketnews.com —
[TOPICS: MT$$$$,M$X$$$,M$$CR$,MGX$$$]
