Merkel CSU Ally Seehofer Rejects Barroso Rescue Fund Proposal
Barroso indicated on Aug. 4 that he wants more firepower for the European Financial Stability Facility, the euro area’s rescue fund. Barroso urged euro region leaders to review “all elements” of the 440 billion-euro ($626 billion) fund and the 500 billion-euro European Stability Mechanism that will replace it in mid-2013.
Seehofer said his party, one of three groups making up the German ruling coalition, won’t support any policy moves in the debt crisis that “socialize” or spread the liability for the debt of some euro region states.
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