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French leverage to euro fund via ECB: De Jager

BRUSSELS : A French bid to multiply the euro-zone rescue fund's firepower by turning it into a bank that could draw mone
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By Muhammad Iqbal
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hjkiBRUSSELS: A French bid to multiply the euro-zone rescue fund's firepower by turning it into a bank that could draw money from the European Central Bank is dead, Dutch Finance Minister Jan Kees De Jager said on Saturday.

The plan, long championed by President Nicolas Sarkozy and the cause of tension with German Chancellor Angela Merkel ahead of face-to-face talks between the pair in Brussels late Saturday, "is no longer an option," De Jager said.

Copyright AFP (Agence France-Presse), 2011

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