Nowotny worried about EFSF changes timeline: report

Reuters

VIENNA (Reuters) - European Central Bank Governing Council member Ewald Nowotny is concerned that euro zone countries will not push through parliamentary approval of changes to their EFSF bailout fund as quickly as planned, he was quoted as saying by an Austrian magazine.

"I fear the envisaged date of the end of October won't hold," Profil cited him as saying in its August 22 edition.

Continue Reading Below

Member states have to adopt revisions to the European Financial Stability Facility (EFSF) so that it can take over from the ECB the job of buying debt of struggling members on secondary markets if needed.

(Reporting by Michael Shields)

What do you think?

Click the button below to comment on this article.