Brussels stands by wider EFSF scope

Article reports that EU officials insisted on the 7 February 2011 that they are not backing away from proposals to give the European financial stability facility, the eurozone’s bail-out fund, more powers to tackle the debt crisis despite a failure to back the changes at the European Council summit of EU leaders in Brussels on the 4 February 2011.

Officials from the European Union and key member states, including Germany, said the powers were still on the table along with other economic and fiscal measures aimed at shoring up the euro. These were being negotiated as part of a 'grand bargain' that European leaders hope to conclude at a further summit in March 2011.

ESO: Background information: Cracks over Franco-German eurozone plan http://www.europeansources.info/record/cracks-over-franco-german-eurozone-plan/

ESO: Background information: European Financial Stability Facility (EFSF) http://www.europeansources.info/record/website-european-financial-stability-facility-efsf/

ESO: Background information: EU leaders wrestle over revamped rescue fund / Berlin nears deal on eurozone governance http://www.europeansources.info/record/eu-leaders-wrestle-over-revamped-rescue-fund-berlin-nears-deal-on-eurozone-governance/

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