Europe should boo(u)st bail out fund-Japan
Japan has been trying to boost it’s Economy for decades, but without real success. Now they are telling Europe, what needs to be done. Boost the EFSF, and all will be great. It is funny, how all these failed policies, have not produced any wisdom, but to do the same thing over again. We know who does the same thing over and over, while expecting a different outcome-only idiots. From Financial Post.
Europe should boost the total firepower of its rescue fund and frontload its funding to send a positive signal to investors and international partners that it is determined to solve its debt crisis, Japanese officials said on Monday.
Japan has repeatedly expressed its willingness to help Europe contain its debt crisis, but has also stressed it wanted to see a convincing action plan before making any firm commitments.
“Japan like other non-euro countries is prepared to do something, but unless European contries take decisive action it is hard to make those steps effective,” a senior Japanese government official said.
Lifting the combined size of the current bailout fund (EFSF) and the new permanent European Stability Mechanism (ESM) beyond the current 500 billion euros would be a major step and an encouraging signal.
“We expect European countries will review the combined ceiling of 500 billion euro of EFSF (European Financial Stability Fund) and ESM in a very positive manner,” the official told Reuters.
As for the Germans, they should be getting increasingly tired of bailing out Europe.
German Finance Minister Wolfgang Schaeuble signalled over the weekend that Europe’s biggest economy and its main paymaster could boost its contribution to the fund and support its swift launch, although any decisions would have to be made in January.
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