07.12.2011 - 21:48 [ Bloomberg ]

European Stocks Decline After Germany Rejects Combining Euro Bailout Funds

Germany said it opposes any change in the agreed sequence in which the the region’s bailout funds will be used. It stands by the current agreement that the permanent European Stability Mechanism will take over from the European Financial Stability Facility by the middle of next year, a German government official told reporters in Berlin today on condition of anonymity because the negotiations are private.