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Pröll is Against the Extension of the Euro Shield

Published: January 20, 2011; 00:02 · (Vindobona)

The Austrian Finance Minister, Josef Pröll (ÖVP), called for stricter budget discipline and pronounces himself against a more extensive rescue shield

Pröll is Against the Extension of the Euro Shield / Picture: © Wikipedia / Tsui

On part of the ECB and Belgium it has been suggested that the so-called rescue shield which has presently a volume of € 750bn be extended. Against this proposal are in particular Germany and Austria. The reason for the discussion is a flaw in the rescue shield system. The conception was that the EFSF rescue fund could take up loans of up to € 440bn guaranteed by the euro countries.…

This article includes a total of 242 words.

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