Merkel set to allow firewall to rise / Eurozone plan to hold €240bn in reserve

The Financial Times and other news sources reported on 26 March 2012 that Germany was poised to bow to international pressure and allow a temporary increase in the eurozone’s financial 'firewall' to prevent the crisis in the region’s periphery spreading to other member states.

The items was on the agenda of a meeting of EU Finance Ministers in Copenhagen, 30 March 2012.

EU economy and finance ministers and central bank governors met on 30-31 March 2012 in Copenhagen for an Informal ECOFIN meeting. They discussed the economic and financial stability outlook, the strategy for dealing with the economic crisis, the strengthening of financial sector regulation and the EU multiannual budgetary framework (for reports of meeting see separate record).

Deutsche Welle, 29.3.12: EU finance ministers to consider new rescue push http://www.dw.de/dw/article/0,,15845580,00.html

EUObserver, 30.3.12: Eurozone firewall to get minimal boost http://euobserver.com/19/115746

ESO: Background information: G20 to urge eurozone to increase ‘firewall’ http://www.europeansources.info/record/g20-to-urge-eurozone-to-increase-firewall/

EUObserver: 26.3.12: Euro-countries seek compromise on bail-out funds http://euobserver.com/19/115694

EurActiv, 27.3.12: Merkel accepts eurozone firewall increase http://www.euractiv.com/euro-finance/germany-accepts-eurozone-firewall-increase-news-511780

Euro/Topics: Press Review, 27.3.12: Merkel accepts ESM enlargement http://www.eurotopics.net/en/home/presseschau/aktuell.html/NEWSLETTER-2012-03-27-Merkel-accepts-ESM-enlargement

Deutsche Welle, 26.3.12: Raising the eurozone's firewall http://www.dw.de/dw/article/0,,15833224,00.html

Spiegel Online International, 26.3.12: Merkel Comes Around to Euro-Zone Firewall Boost http://www.spiegel.de/international/europe/0,1518,823737,00.html

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