European Central Bank Chief Says Bailout Fund Should Be Bolstered

Sunday, January 16, 2011 18:16
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European Central Bank Chief Says Bailout Fund Should Be Bolstered

A day before a meeting of euro zone finance ministers, Europe’s top banker says the fund created by the European Union to ensure financial stability needs to be larger and more flexible.

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The comments by European Central Bank President Jean Claude Trichet could indicate that European authorities will pour even more money into the ongoing effort to stabilize the economies of troubled countries in the region.


But his comments may also signal that the European Union’s efforts to this point have not been enough to contain the spreading debt crisis, raising fears that debt and currency problems will continue in the region for some time to come.
 

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