Bloomberg News

Japan Said to Plan Supporting Europe’s Rescue Fund Enlargement

October 27, 2011

Oct. 27 (Bloomberg) -- Japan’s government plans to support the enlargement of the rescue fund agreed to by euro-region leaders, and is waiting to hear from European officials on details for enhancing the program, according to a person familiar with the matter.

Japan anticipates waiting until November for specification of how it may be able to help, a second person said, with both speaking on condition of anonymity because the discussions on the matter are private.

European officials have said that, under plans to be spelled out in November, the European Financial Stability Facility will be used to insure bond sales and create a special investment vehicle that would court outside money, from public and private financial institutions and investors.

As part of its original role, the EFSF sold two five-year bonds and one 10-year security, all in the first half of this year. The Japanese government bought more than a fifth of the inaugural issue in January.

--Editors: Ken McCallum

To contact the editor responsible for this story: Chris Anstey at canstey@bloomberg.net


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