Bloomberg News

Rescue Fund Overlap Wouldn’t Mean Double Capital, EU’s Rehn Says

October 08, 2011

Oct. 8 (Bloomberg) -- Speeding up the European Union permanent rescue fund to implementation next year would mean it would overlap with the temporary rescue fund, European Union Economy Commissioner Olli Rehn said in a television interview on Finland’s YLE TV1 today.

As the measures would overlap gradually, Europe would not have 940 billion-euro firepower to counter the debt crisis, Rehn said. The European Stability Mechanism will have 500 billion euros in capital, while the temporary European Financial Stability Facility has 440 billion euros.

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net


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