European governments capped fresh rescue lending at 500 billioneuros ($666 billion), after a Germany-led coalition opposed afurther expansion of the region's anti-crisis firewall.

Adding the 300 billion euros already committed to Greece,Ireland and Portugal, euro-area finance ministers put the overallsize of the firewall at 800 billion euros. In a statement, theyruled out using the 240 billion euros left in the temporary rescuefund to go beyond that.

“This sum is important,” Austrian Finance Minister Maria Fektertold reporters at a meeting of European finance ministers inCopenhagen today. “Considering the involvement of the InternationalMonetary Fund as well as the discussions at the G-20, jointparticipation depends on what Europe does — and Europe has nowfixed this sum clearly.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.