The funds will most probably mostly come from the European Financial Stability Fund or EFSF.
But given the nature of the EU, the EFSF must be ratified unanimously by all members.
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Slovakia, one of the poorest members of the EU, is expected to ratify the EFSF.
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But there is no word, yet, on whether the EFSF is going to get any bigger.
Will they opt to leverage a fund or change the EFSF into a bank?
The third and biggest reason to worry is that the EFSF is too small.
Because the buyers wanted a higher interest rate than the EFSF was willing to pay.
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But as things stand neither the ESM nor the EFSF is allowed to do that.
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The rescue fund, the European Financial Stability Facility (EFSF), is far too small to be credible.
If the EFSF is going to purchase bonds then national parliaments will have a say.
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The problem is that a 4tn euros EFSF would foist an enormous potential liability on Germany.
Many think the EFSF, to be credible, should be doubled or tripled in size.
That is why the Germans resist the French idea of central-bank financing of the EFSF.
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The European Central Bank has rejected the idea that it should lend to the EFSF.
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The ECB would provide leverage, but any initial losses would be borne by the EFSF.
But of course (see point 4), the EFSF itself is being partly funded from the private markets.
Even RIMM was able to brush off its data network outage, thanks to massive EFSF expansion hopes.
It is an important step that the EFSF is to have to power to intervene in secondary markets.
What Madrid would like is for its banks to borrow directly from the rescue fund - the EFSF.
The bailout programme for Greece dates back to 2010 and does not depend on the EFSF or ESM.
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Italy and even Spain may yet need liquidity support from some combination of the EFSF, ECB and IMF.
We as the eurozone should implement measures already adopted, such as the EFSF and the European semester.
Some are suggesting the main bailout fund, the EFSF, be raided as soon as it comes into operation.
And as I mentioned yesterday, yet more EFSF money may have to go to Greece to prevent it defaulting.
So we might have the prospect of the full 622-member Bundestag scrutinising EFSF bond-buying on a pretty specific basis.
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Yesterday the Financial Times reported that Europe was in discussions to increase the size of the EFSF bailout fund.
Slovakia was thrust into the center of Euro politics on Tuesday, as its Parliament sought to ratify the EFSF.
The European Financial Stability Facility (EFSF) is considering issuing foreign currency, yuan, bonds.
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But that AAA would only really be useful if it were used to back the guarantee to the EFSF.
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