by Bill McBride on 1/17/2011 03:45:00 PM
Monday, January 17, 2011
From the Irish Times: EU ministers seek rescue fund boost
Euro zone finance ministers called today for an increase in the effective lending capacity of the union's rescue fund, but Germany said there was no urgency and it would be March before a firm plan was in place.The expectation is the European Financial Stability Facility (EFSF) will eventually be increased from €440 billion to €700 billion. The European financial crisis is far from over ...
"There will not be results today, the market developments in the last week have, thank God, taken any urgency out of these discussions," [German finance minister Wolfgang Schaeuble] told reporters.
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Posted by Bill McBride on 1/17/2011 03:45:00 PM