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.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: The Future of Natural Gas in the U.S.
Are you interested in the Energy futures market? Sign up and receive our detailed report today!
Through our exclusive research, you will have access to current global events and price projections that may help you learn how this particular market has the potential to be a strong investment as a commodity.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.