EU's Rehn: Leveraging is One Option for EFSF Bailout Fund

Reuters

Leveraging is one of the options to be considered for enhancing the European Union's EFSF bailout fund, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Monday.

"We have a very important meeting at a critical juncture today. We are facing three main challenges: stalling growth, stressed sovereigns and still vulnerable banks," EU Economic and Monetary Affairs Commissioner Olli Rehn said.

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He was speaking ahead of a meeting of euro zone finance ministers and officials in Luxembourg to discuss the European Financial Stability Facility (EFSF) fund and the economic situation in Greece.

"It is essential to intensify fiscal consolidation and take decisions on growth-enhancing structural reforms... It is important that all member states meet their fiscal targets," Rehn said.

Some of the options to be considered for the EFSF involved the European Central Bank, he said. (Reporting by Annika Breidthardt; editing by Rex Merrifield)