If the European Union can agree a comprehensive package to deal with the debt crisis during March, that may remove pressure to strengthen the euro zone's temporary bailout fund, Austria's finance minister said.
Josef Proell indicated that increasing the effective capacity of the 440 billion euro European Financial Stability Facility may not be necessary if leaders can agree a complete package of measures by an end-March summit.
"We are presenting a comprehensive package for Europe in March," Proell told reporters.
"If this comprehensive package is a sufficient signal to the market so that the euro ... can be kept stable and can develop ... then the pressure is off to act now on the EFSF," he said.
Source: http://www.reuters.com
Josef Proell indicated that increasing the effective capacity of the 440 billion euro European Financial Stability Facility may not be necessary if leaders can agree a complete package of measures by an end-March summit.
"We are presenting a comprehensive package for Europe in March," Proell told reporters.
"If this comprehensive package is a sufficient signal to the market so that the euro ... can be kept stable and can develop ... then the pressure is off to act now on the EFSF," he said.
Source: http://www.reuters.com
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