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Image header Agence Europe
Europe Daily Bulletin No. 10558
ECONOMY - FINANCE - BUSINESS / (ae) eurogroup

Rehn and Juncker say ESM and EFSF must be combined

Brussels, 21/02/2012 (Agence Europe) - Eurogroup President Jean-Claude Juncker and Commissioner with responsibility for the euro Olli Rehn have recommended increasing the European anti-crisis firewall to €750 billion by bringing together the resources of two rescue funds: the €500 billion of the new European Stability Mechanism (ESM) and the €250 billion of the European Financial Stability Facility (EFSF). Juncker said on Tuesday 21 February that he hoped the decision would be taken at the European Council at the start of March. Rehn said the G20 would only agree to a substantial increase in IMF resources if the EU first strengthened its firewall. (MB/transl.rt)

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