–Adds Comment On State Insolvency To Story Sent At 13:07 GMT

BERLIN (MNI) – German Chancellor Angela Merkel on Wednesday
reaffirmed that Germany won’t agree to making the rescue fund for Greece
and the European Financial Stability Facility (EFSF) permanent.

It must be “clear that the funds are limited in time,” Merkel said
in a public session of the European affairs committee of the Bundestag,
Germany’s lower house of parliament.

“We need crisis solution measures of a different nature,” the
Chancellor told the parliamentarians. “A change of EU Treaties will be
needed for that,” she added. Under these new crisis solution measures,
creditors would have to shoulder part of the burden in future, Merkel

“We need a permanent crisis solution mechanism in the sense of an
insolvency procedure” for Eurozone member states, Merkel asserted.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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