Wellink wants European Financial Stability Facility funds doubled


European Central Bank Governing Council member Nout Wellink has said he wants the European Financial Stability Facility (EFSF) rescue package doubled.

Wellink, who is president of the Nederlandsche Bank until the end of this month, said he wanted to see the fund rise from €750 billion ($1.06 trillion) to €1.5 trillion.

The Luxembourg-based EFSF was created by the euro area member states in 2010. As part of its overall rescue package of €750 billion, the facility is currently able to issue bonds

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