Bloomberg News

Merkel Reaffirms ESM Bailout Cap at EU500 Billion, Officials Say

December 13, 2011

Dec. 13 (Bloomberg) -- Chancellor Angela Merkel told German coalition lawmakers that the 500 billion-euro cap on Europe’s planned permanent bailout fund will stay in place, two officials with knowledge of the discussion said.

Merkel, during a meeting of her Christian Democratic caucus in Berlin today, confirmed the limit on the European Stability Mechanism as agreed by European Union leaders at a summit last week, the officials said on condition of anonymity because the talks are behind closed doors.

To contact the editor responsible for this story: Tony Czuczka at aczuczka@bloomberg.net


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