Eurozone Officials Meet in Brussels

A meeting of Eurozone finance ministers today in Brussels was expected to produce a statement on the release of additional bailout funds for Greece as well as plans to expand the European Financial Stability Facility to 1 trillion euros. According to sources, it now appears unlikely that the goal can be met in the short term.

The EFSF currently has 440 billion euros available for ending but this is considered far short of what could be needed as the debt crisis spreads to other Eurozone countries. Should larger economies such Italy or Spain require emergency funding, the amount currently available is considered far from sufficient to prevent default.

Source: BBC News

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