Die Welt: EU Commission Is Considering Doubling Size Of European Financial Stab [sic] Fund
Who would have thought a little pre-thankgsiving truth that the EFSF is missing a zero would set off such a firestorm of protest. From Die Welt (google translated): "The EU Commission wants to double the rescue to calm the markets. But so far, the federal government off against the proposal."
Given the recent currency turmoil around Ireland, Portugal and Spain, there are considerations in the EU to increase the euro rescue significantly. How "World Online" learned, suggested the EU Commission to double the protective shield in its height. Germany, as the economically strongest member of the community rejects the plans reportedly at least the time being.
Previously had Bundesbank President Axel Weber indicated the possibility of aggravation of the shield. "If the amount is not enough, we could increase it," Weber said in Paris. "An attack on the € no chance of success." The Euro-shield, which was launched by European States and the International Monetary Fund (IMF) could be claimed in the coming months of other countries in the euro area.
Now that Ireland has recently rescued the €-shield, now countries such as Portugal and Spain have come under suspicion of having to apply for crisis assistance. Observers doubted, however, that sufficient funds of € protective shield for the capital needs of a large country such as Spain would.