Bloomberg News

Slovak Finance Minister Says EFSF Expansion May Need Leveraging

October 04, 2011

Oct. 4 (Bloomberg) -- An expansion of the euro area’s rescue fund through leveraging may be necessary, Slovak Finance Minister Ivan Miklos said today in the capital Bratislava.

Any default in the 17-member euro region must be coordinated, Miklos said at a budget committee meeting, adding he prefers bank recapitalization from national sources.

Slovakia’s ruling coalition still lacks an agreement on approving the mechanism, Miklos said. The government will meet on the issue later today.

To contact the reporter on this story: Radoslav Tomek in Bratislava at rtomek@bloomberg.net

To contact the editor responsible for this story: Alan Crosby at acrosby1@bloomberg.net


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