European finance ministers will today seek to meet a self-imposed deadline for drawing additional aid to the debt crisis and to form new budget rules as investor confidence that a comprehensive solution is achievable wanes.
Euro-area finance ministers will hold a conference call at 3:30 p.m. Brussels time to discuss 200 billion euros ($261 billion) in additional funding through the International Monetary Fund and the mechanics of a so-called fiscal compact that was negotiated at a Dec. 9 European Union summit, according to two people familiar with the planning.
“They’ll try to get as much done as they can before Christmas, but it’s doubtful they’ll put markets in a Christmas mood,†Carsten Brzeski, an economist at ING Group in Brussels, said in an interview. “There is still so much uncertainty.â€
Source: Bloomberg
