Bowles: EFSF should be increased to €2tn
Friday 22 July 2011 - by Jacqui Street
The European Parliament's Economics and Monetary Affairs Committee chair Sharon Bowles has called for a further increase in Europe's bail out facility following the latest agreement by eurozone leaders.
Bowles said she is "hugely pleased" at the extension of the loan maturity and reduction of interest rates for Greece.
"At last wisdom has broken out and it is a triumph that these terms are also extended to Ireland and Portugal."
The package to bail out Greece, drawn up on Thursday at an emergency summit of eurozone leaders, is worth €109bn ($155bn).
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