Italy and Spain are "too big to be saved," says a senior German finance official, making the...

|By:, SA News Editor

Italy and Spain are "too big to be saved," says a senior German finance official, making the argument that tossing around big numbers regarding the EU firewall is "just a show." Germany is resisting worldwide pressure to boost the size of the permanent rescue fund, not wanting to be on the hook for more, and saying it reduces incentives for governments to cut their debt.