Bloomberg News

ECB’s Noyer Says Has $1 Trillion to Fight Sovereign Debt Crisis

October 05, 2011

Oct. 5 (Bloomberg) -- European Central Bank governing council member Christian Noyer said that the European Financial Stability Facility, together with the International Monetary Fund support, has effective firepower of $1 trillion.

“The fund will be operational in several days,” Noyer said today on Europe 1 radio. The fund has “440 billion euros, that means in practice, together with IMF support, $1 trillion. It’s a very significant amount.”

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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