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Euro zone may raise bailout fund capacity to near 700 bln euros
The euro zone may raise the combined lending power of its bailout funds to close to 700 billion euros from 500 billion in a trade-off between German opposition to committing more money and calming markets, euro zone officials said. Euro zone finance ministers and central bankers will discuss the size of their bailout funds - the temporary European Financial Stability Facility (EFSF) and the permanent European Stability Mechanism (ESM) in Copenhagen on March 30-31. The 440 billion euro EFSF and the 500 billion ESM now have a combined lending ceiling of 500 billion euros, which means that in the 12 months from July ... (full story)
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