Monday, January 17, 2011

EU finance ministers call for increase in EFSF

by Bill McBride on 1/17/2011 03:45:00 PM

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.
...
"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.
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 ...

Weekend:
Summary for Week ending January 15th
Schedule for Week of January 16th