–EFSF Financial Burden Must Not Be Limited To A Few States
BERLIN (MNI) – The German government on Friday reaffirmed that it
still sees no need to increase the European Financial Stability Facility
(EFSF).
“The federal government has always said — and willingly repeats it
today — that it is important that the euro rescue fund can fulfill its
duties, and in its current state it can fulfill these duties,” spokesman
Steffen Seibert said at a regular press conference here.
Asked about a Finnish proposal that Eurozone countries which don’t
have an ‘AAA’ credit rating should make a cash contribution to the EFSF
in order to allow the fund to make more of its E440 billion assets
actually available to borrowers, Seibert said that once the German
government had officially received the proposal it would evaluate it.
“The federal government has always said that the financial burden
of the rescue fund cannot be limited to a few countries,” the spokesman
stressed.
EFSF head Klaus Regling said Thursday that in order to preserve its
‘AAA’ rating the EFSF can currently dispose of only around E250 billion.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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