European Central Bank President Jean-Claude Trichet signaled he’s not opposed to governments increasing the size of the European Union’s 750 billion-euro ($989 billion) emergency fund if needed.
“This facility has to be commensurate with the difficulty of the time,” Trichet told Bloomberg Television in an interview in Frankfurt today. “It is not our decision, it is the decision of the governments.”
Trichet’s message leaves European leaders to make the next move to prevent the debt crisis from spreading to Portugal and Spain, after the mixed response of financial markets to this week’s 85 billion-euro rescue package for Ireland.
“Our message for governments is all authorities have to be up to their responsibilities at the present period,” Trichet said. “We ourselves, I trust, are up to our responsibility.”