Weber Says EU Rescue Fund Can Be Increased If Needed
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European Central Bank council member Axel Weber said governments can increase the size of the European Union-led bailout fund if necessary to restore confidence in the euro.
“Seven hundred and fifty billion should be enough to assure the markets,” Weber said at the German embassy in Paris late yesterday. “If not, it will have to be increased.” In a worst-case scenario, the fund would need an additional 140 billion euros ($187 billion), an amount that would not jeopardize the survival of the euro, Weber said in Berlin today.