Bloomberg News

Schaeuble Says Euro Region to Agree on ‘Effective’ Use of EFSF

October 15, 2011

Oct. 15 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said euro region governments will agree measures to boost the enhanced European Financial Stability Facility’s lending capacity even while rejecting a role for the European Central Bank in leveraging the EFSF’s funds.

“We will agree on the necessary measures for an effective use of the instruments of the financing facility so that we can fight the danger of contagion pre-emptively,” Schaeuble told reporters after a meeting of finance ministers and central bank governors from the 20 biggest economies in Paris. Leveraging the EFSF via the ECB is “not on the table,” he said.

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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