BRUSSELS: European governments are preparing for a one-year increase in the ceiling on rescue aid to 940 billion euros (US$1.3 trillion) to keep the debt crisis at bay, according to a draft statement written for finance ministers.
The euro-area finance chiefs would probably decide at a meeting in Copenhagen today to run the 500 billion-euro permanent European Stability Mechanism alongside the 200 billion euros committed by the temporary fund, a European official told reporters in Brussels yesterday.
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