BERLIN – The head of Europe’s bailout fund says that it would have enough money to cover potential rescues of both Portugal and Spain, and that Greece doesn’t need a debt restructuring.
European officials are contemplating whether and how to overhaul the 750 billion euro fund, which currently is able to lend out less than the full headline amount because of the need to secure a top credit rating.Talk of an overhaul has been prompted by fears that possible rescues for Portugal and, particularly, Spain might overstretch the fund. Fund head Klaus Regling said yesterday that both countries ‘are in a position to refinance themselves on the market’ at present. – Nampa-AP
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