Bloomberg News

Schaeuble Says Shouldn’t Speculate on Combined Rescue Fund Limit

January 24, 2012

Jan. 24 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble urged against speculation over the potential ceiling of Europe’s anti-crisis firewall if the temporary and permanent rescue funds were to be run in tandem.

The permanent European Stability Mechanism is to be equipped with 500 billion euros and “for the moment, there is no reason for a debate that goes beyond that,” Schaeuble told reporters in Brussels today after a meeting of European finance ministers. Reports that plans are in the works to combine the funds and pontentially free up 750 billion euros are “without any foundation in reality.”

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: Alan Crawford at acrawford6@bloomberg.net


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