German Committee Vote on EFSF Guidelines Excludes Leveraging
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The budget committee in Germany’s lower house of parliament approved guidelines for the region’s rescue fund that exclude proposals on how to leverage its firepower, said Ulrich Scharlack, spokesman of the parliamentary group of Chancellor Angela Merkel’s Christian Democratic Union.
“We assume that the leveraging” of the European Financial Stability Facility “will be decided at the Brussels summit on Oct. 23,” Scharlack said by telephone today, adding that this decision would then have to be presented to the budget committee in Berlin for approval before Merkel could return to Brussels for a second European summit on Oct. 26.