Tags: Merkel | Billion | Bailout | Fund | Cap

Merkel Stands Firm on $654 Billion Bailout-Fund Cap

Tuesday, 13 Dec 2011 12:46 PM


Chancellor Angela Merkel told German coalition lawmakers that the 500 billion-euro ($654 billion) cap on Europe’s planned permanent bailout fund will stay in place, two officials with knowledge of the discussion said.

Merkel, during a meeting of her Christian Democratic caucus in Berlin today, confirmed the limit on the European Stability Mechanism as agreed by European Union leaders at a summit last week, the officials said on condition of anonymity because the talks are behind closed doors.

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