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Germany ‘won’t give more to EU bail-out fund’

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AFP
Oct 2, 2011

German Finance Minister Wolfgang Schaeuble ruled out Germany contributing any more money to the beefed-up EU bail-out fund than the 211 billion euros approved by parliament, in an interview published Saturday.

“The European Financial Stability Facility has a ceiling of 440 billion euros ($590 billion), 211 billion of which is down to Germany. And that is it. Finished,” he told the magazine Super-Illu.

He also suggested the European Stability Mechanism, which is due to replace the EFSF by 2013 at the latest, would be smaller.

“Then it will be only a matter of 190 billion in total, for which we will be guarantors, including interest,” he explained.

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This article was posted: Sunday, October 2, 2011 at 6:04 am





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