Ackermann calls for EFSF boost

The Eurozone must avoid issuing euro-bonds and should focus on boosting the size of its bailout fund to stop contagion, Deutsche Bank CEO Josef Ackermann has said. “We need the firewall to cope with the spillover effect, if it occurs,” he said, according to Bloomberg. “The stability facility should be increased,” he added, referring to the European Financial Stability Facility (EFSF) or bailout fund.