Merkel rejects lifting €500 billion ESM ceiling

German chancellor Angela Merkel reiterated her opposition to lifting the €500 billion ceiling on the permanent euro-area rescue fund, the European Stability Mechanism.

16th March, 2012

German chancellor Angela Merkel reiterated her opposition to lifting the €500 billion ceiling on the permanent euro-area rescue fund, the European Stability Mechanism.

Business leaders she talked to said they don’t want an “unlimited permanent rescue fund” and she agrees, she told reporters in Munich today after talks with industry and trade representatives. That means that €500 billion limit on the ESM stands - it’s “extremely important,” she said....

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