Bloomberg News

Europe Should Use Both Rescue Funds Simultaneously, Rehn Says

February 22, 2012

Feb. 22 (Bloomberg) -- European Union Economic and Monetary Affairs Commissioner Olli Rehn said Europe should use both the temporary and permanent rescue funds simultaneously.

“The firewall to reduce financial market turmoil has been inadequate” during the debt crisis, Rehn said in an interview on Finland’s YLE1 television.

“As part of the total measures to quell the debt crisis, it’s necessary to strengthen these firewalls and that requires using the permanent European Stability Mechanism and the temporary European Financial Stability Facility together,” he said. “Their joint capacity can be used if the economic stability of the euro area is at stake.”

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net


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