January 12, 2011
European Union governments are considering proposals to significantly boost the bloc's bailout fund for indebted euro-zone countries, an acknowledgment that the fund might prove too small if the region's debt crisis spreads to Spain, European officials said.
Top civil servants from EU finance ministries discussed an overhaul of Europe's main bailout mechanism, the €440 billion ($568 billion) European Financial Stability Facility, at talks in Brussels on Monday and Tuesday, the European officials familiar with the matter said. The changes being discussed include raising the fund's size and letting it intervene in bond markets.
Also on Tuesday, Japan said it plans to buy more than 20% of a bond offering by the European Financial Stability Facility, expected this month, Finance Minister Yoshihiko Noda said.
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Interactive Graphics (2011 Euro-Zone Outlook)
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