European Central Bank Governing Council member Klaas Knot saidGermany should support raising the European emergency fund to helpend the region's debt crisis.
“The most important obstacle lies in Germany, not in theNetherlands,” Knot said in an interview on Dutch public televisionlast night. “I think that more money is needed and we will use thetime to convince our German colleagues.”
German Chancellor Angela Merkel has resisted calls to ratchet upbailout funding amid warnings that the current amount isn't enoughto safeguard nations such as Italy and Spain. Germany has insteadfocused on budget discipline as the best means to stem the crisisnow in its third year.
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