Futures Market News
EFSF will be helpful to debt-hobbled euro zone nations, fund director says
Dec 18, 2011 04:27 PM
The fund to support nations under the burden of the sovereign debt scourge now holds 400 billion euros and an international regulator said it can strengthen that figure by 200 billion additional euros, according to commentary from the fund's director at a conference in Rome last week.
Reuters reports the European Financial Stability Facility will be able to help Italy and Spain navigate through damages caused by the two-year-old sovereign debt crisis, Klaus Resling told the conference, according to Reuters. The International Monetary Fund said it can help with the additional funding by the end of next year's first quarter, even while whispers about the market's doubts of the EFSF's capacities have grown louder.
"We don't know how much leverage will be possible, but there will be some, and the IMF will be there if we need it," Resling said, according to the news service.
Spain and Italy, two euro zone nations trying to control damages caused by the debt scourge, also may be helped by the EFSF, Resling said.
The 17-nation single currency is aiming this week to rebound from losing 2.5 percent of its value last month, according to Bloomberg.
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