Rhodes Says 500 Billion Euros Inadequate for EFSF, WiWo Says

Former Citigroup Inc. (C) Senior Vice Chairman William Rhodes said that the 500 billion euros ($634 billion) made available via the European Financial Stability Facility is inadequate, Wirtschaftswoche reported in a preview of an article to be published on Monday, citing an interview.

Italy alone needs to refinance 307 billion euros this year, and therefore more access to liquidity is needed, WiWo cited him as saying.

Rhodes is confident that a solution will be found to ensure the survival of the euro, according to WiWo.

To contact the reporter on this story: Alex Webb in Frankfurt awebb25@bloomberg.net.

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net.

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