FRANKFURT (MarketWatch) -- Germany expects the euro zone's bailout fund to see its firepower leveraged to more than 1 trillion euros ($1.39 trillion), the Associated Press reported Monday, citing German opposition leaders who attended a briefing with Chancellor Angela Merkel. The measure comes as the 17-member euro zone attempts to find a way to boost the 440 billion euro European Financial Stability Facility's lending ability in order to help prevent the region's debt crisis from overwhelming Italy and Spain. Frank-Walter Steinmeier, parliamentary leader of the opposition Social Democrats, said leverage could be achieved through a combination of measures, including having the fund insure a portion of possible losses or involving the participation of entities such as the International Monetary Fund. http://www.marketwatch.com/story/ge...n-euros-report-2011-10-24?link=MW_latest_news
The writer - although making valuable points - is unfortunately not a decision maker either in politics nor in Wall Street/City of London bankster club. In short words: we are living in balance sheet repair mode. Consumers have to reapir their balance sheets as well as governments. Only a meaningful jump in employment can change the game.