Tags: EU | Europe | Financial | Crisis

Belgian Premier: Bailout Fund Needs More Than $1.4 Billion

Wednesday, 26 Oct 2011 12:50 PM

The prime minister of Belgium says the eurozone's bailout fund should have a firepower of more than 1 trillion euros ($1.4 trillion) to prevent the currency union's debt crisis from spreading.

"I think that effectively, it has to be able to intervene a good deal beyond 1 trillion euros," Yves Leterme said.

He was heading into a crucial emergency summit of European leaders in Brussels.

At the summit, the leaders will seek to set up a complicated scheme to give the 440 billion euro bailout fund more leverage, reduce Greece's massive debt and strengthen banks across the continent.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved