Spain Calls For Bigger Bailout Fund, More ECB Action, Pais Says
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The European Stability Mechanism should probably have greater capacity than its 500 billion euros, and the European Central Bank “can do much more” to support bond markets, Spanish Foreign Minister Jose Manuel Garcia-Margallo was quoted as saying in El Pais today.
The euro region needs to move towards a “federal Europe” and “the mutualization of debt,” he was quoted as saying by the newspaper. Stronger European nations should stimulate internal demand while the European Investment Bank could increase spending to bolster the economy, he said.