Bloomberg News

German CDU’s Kauder Says EFSF Could Run Longer, Die Welt Reports

March 01, 2012

The euro region’s temporary financial backstop, the European Financial Stability Facility, could be allowed to run “a few months longer than planned,” Volker Kauder, the parliamentary chief of Chancellor Angela Merkel’s Christian Democratic Union and its Bavarian Christian Social Union sister party, told Die Welt.

There is no reason now to discuss an increase of the 500 billion-euro ($667 billion) ceiling for the European Stability Mechanism, the backstop’s permanent successor from the middle of the year, Kauder said, according to the newspaper.

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

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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