Berlin rejects rescue fund increase

Author (Person)
Series Title
Series Details 26.11.10
Publication Date 26/11/2010
Content Type

Article reports that the German government has rejected in late November 2010 any suggestion of an increase in the size of the €440bn European financial stability facility – the eurozone rescue fund established by European Union finance ministers in May 2010 to help debt-laden members of the common currency zone.

Germany was reacting to media reports that the German government had been approached by the European Commission to double the size of the rescue fund, in order to ensure adequate funds were available in the event of Spain and Portugal seeking help.

Related Links
ESO: Background information: European Financial Stability Facility (EFSF) http://www.europeansources.info/record/website-european-financial-stability-facility-efsf/
Spiegel Online International, 26.11.10: Germany Denies EU Rescue Fund Is Too Small http://www.spiegel.de/international/europe/0,1518,731359,00.html

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