The eurozone's €440bn ($554bn) sovereign rescue fund will be operational by the end of the month and expects to be awarded a triple A credit rating in August, its new head said yesterday.
Spelling out how the European Financial Stability Facility would operate, Klaus Regling, chief executive, said: “We will be ready to act whenever the politicians tell us to act.”
Mr Regling told the FT that the fund was a temporary crisis mechanism but could be extended beyond its intended three-year lifespan if any loans to eurozone governments were outstanding
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