Wednesday, 30 November 2011

Euro Group 29 November 2011 on EFSF

Ahead of the Economic and Financial Affairs Council today, the finance ministers of the eurozone countries gathered in the informal Euro Group yesterday evening, 29 November 2011. You can watch the late press conference with the Euro Group president Jean-Claude Juncker, Commission vice-president Olli Rehn (Ecfin) and EFSF chief executive officer Klaus Regling (a little less than half an hour).

The EU Council Press Office offers a page with six documents concerning the European Financial Stability Facility (EFSF).

Business Insider and Bloomberg offer a condensated views of the technical work to leverage the EFSF, but the main finding is that fresh real money is not yet in sight to reach the one trillion euro goal.

The FT Alphaville blog says the problem is that it’s become more and more clear that whatever the final amount of firepower achieved through these options probably won’t be adequate. Talks are under way to involve the International Monetary Fund (IMF).

Meanwhile the clock keeps ticking for the eurozone.



Ralf Grahn