Bank Of Baku

Angela Merkel: Euro rescue fund won’t just be extended

Angela Merkel: Euro rescue fund won’t just be extended
# 20 October 2010 09:06 (UTC +04:00)
Baku - APA-Economics. A 750 billion euro rescue fund set up to support the euro currency will not "simply be extended" from mid-2013 when it is due to expire, German Chancellor Angela Merkel said on Tuesday, Reuters reported.

"I have said time and again that the rescue fund will end in 2013 and will definitely not simply be extended," Merkel.

"That’s why we must take steps on what to do next. We agree that we need a rescue mechanism that is lasting, but different."

She was speaking at a joint news conference with French President Nicolas Sarkozy and Russian President Dmitry Medvedev in the northern French seaside town of Deauville.
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