Sunday 16 January 2011 10:37 pm

Eurozone rescue fund debated

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Eurozone finance ministers will today discuss an increase in the effective lending capacity of the Eurozone rescue fund, to draw a line under the sovereign debt crisis before more countries need help. The rescue fund, the European Financial Stability Facility (EFSF), can borrow money on the market with Eurozone government guarantees of up to €440bn (£370.8bn). But because it wants to have a triple A credit rating, the effective amount it can lend to countries in need is only around €250bn.