Term Asset-Backed Securities Loan Facility

Under fire, Europe works to bolster debt crisis fund

By Dina Kyriakidou and Dan FlynnWASHINGTON (Reuters) - European policymakers began working on new ways to stop fallout from Greece's near-bankruptcy from inflicting more damage on the world economy after stinging criticism for failing to stem the debt crisis.

After a weekend of being told by the United States, China and other countries that they must get more aggressive in their crisis response, European officials focused on ways to beef up their existing 440 billion-euro rescue fund.Deep differences remained over whether the European Central Bank should commit more of its massive resources to shoring up Europe's banks and help struggling euro zone member countries.Shares and the euro fell in Asia on Monday as investors reacted cautiously to the weekend news. Financial markets have plunged in recent weeks on concerns about the ability of Europe to get a grip on the crisis.Treasury chief Timothy Geithner, in unusually blunt comments, said the risks from Europe were enormous."The threat o...

Read More ›