German economist Klaus Regling, the head of the temporary EFSF bailout fund, is to head up its successor, the European Stability Mechanism.
Regling, 61, who in 2010 was the author of a major report into the roots of the Irish banking crisis, will take charge of a bailout fund meant to reassure markets that the European Union will stand behind its weaker members.
It was also announced in the wake of last night’s meeting of EU finance...
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