Bloomberg News

Euro Area Shouldn’t Put Limit on EFSF Firepower, Salgado Says

November 29, 2011

Nov. 29 (Bloomberg) -- Spanish Economy Minister Elena Salgado said the euro area shouldn’t put a numerical limit on the size of its temporary bailout fund, the European Financial Stability Facility.

“There is no maximum sum because it depends also on private investors so there is no maximum defined amount at the moment,” Salgado told reporters in Brussels today. “Setting a strict quantified limit means markets will always bet on such a limit. I think it is better option not to establish a limit and simply to say it must be as much as possible.”

--Editors: Jones Hayden, Patrick Henry

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editors responsible for this story: Patrick Henry at phenry8@bloomberg.net; James Hertling at jhertling@bloomberg.net


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