A bit more color on an earlier story about creating a bigger EU bailout fund: The FT reports on...

|By:, SA News Editor

A bit more color on an earlier story about creating a bigger EU bailout fund: The FT reports on a 3-pronged approach using 2 rescue funds (the existing €440B EFSF and the hoped-for €500B ESM, expected to come into being in mid-2012), along with treaty changes requiring tougher budget rules. Also discussed: Giving the ESM access to the ECB window, an idea rejected by Germany and the bank in the past. Sounds like a plan.