Euro ministers work on detail of rescue fund revamp

Eurozone bureaucrats keep upping the ante as to how big a "firewall" is needed. And at every critical juncture, German Chancellor Angela Merkel has proven she is nothing but a liar. With every demand for additional firepower, comes an inevitable cave-in from Merkel supporting the move, no matter what she says in advance. Meanwhile, the entire idea that firewalls can accomplish anything is ludicrous, given the key point that no currency unions in the absence of fiscal unions cannot and will not work.

Reuters - Euro zone finance ministers and officials met on Monday to discuss the crisis in the euro zone, including speeding up work on their EFSF bailout fund and the situation in Greece and Italy.

NICOSIA (Reuters) - The International Monetary Fund and the European Commission backed Ireland's calls on Friday to lighten the cost of its bank bailout, a move they hope will bolster the island's borrowing prospects and help wean it off international support. Debt-laden Ireland wants the terms tied to up to 31 billion euros of IOUs pumped into two failed banks eased, and for the euro zone's rescue fund, the European Stability Mechanism, to take over Dublin's stakes in other lenders. ...

BRUSSELS (Reuters) - Euro zone finance ministers are moving closer to agreeing a combined rescue fund of around 700 billion euros ($924 billion) in Copenhagen next week and anything higher would probably be too ambitious, euro zone diplomats said on Friday. The EU's top economic official, Olli Rehn, is pushing for a big fund capable of bailing out indebted euro zone countries such as Italy and Spain, should they be cut off from the markets, despite resistance in Germany, the bloc's paymaster. So far, Germany has refused to countenance any combination of the various rescue funds. ...

BRUSSELS (Reuters) - Euro zone finance ministers on Monday will discuss an increase in the effective lending capacity of the euro zone rescue fund, to try to draw a line under the sovereign debt...

BRUSSELS (Reuters) - Euro zone finance ministers will discuss Monday an increase in the effective lending capacity of the euro zone rescue fund, to draw a line under the sovereign debt crisis before...

BRUSSELS (Reuters) - Finance ministers from the 16-country euro zone agreed on Monday to mobilize financial aid for Greece rapidly if needed but revealed little of how their standby plan for the debt-stricken nation would work.