German Officials: Bailout Fund Will Top €1 Trillion
October 24th, 2011Via: AP:
The eurozone bailout fund will see its firepower increased to more than €1 trillion ($1.39 trillion) to enable it to contain the debt turmoil that threatens to rip apart the 17-nation eurozone, according to German lawmakers briefed Monday by Chancellor Angela Merkel.
Eurozone governments hope the €440 billion ($600 billion) European Financial Stability Fund, or EFSF, will be able to protect countries like Italy and Spain from being engulfed in the debt crisis.
