Germany rejects calls to bolster European Stability Mechanism

The European Stability Mechanism, the region's permanent rescue fund, is poised to launch this summer. Italian officials called for increasing its size, but German officials rejected the idea. German Finance Minister Wolfgang Schaeuble said that before the fund can be increased, Europe must implement previously agreed upon steps. "We will stick to the agreement reached by the leaders in December and then see again in March if that is sufficient," Schaeuble said

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