[jinnsamys]

http://www.cnbc.com/id/45049889 European area leaders plan to scale up their emergency account, the European Financial Stability Facility, to around 1.0 billion pounds, EU resources said on Wednesday. The sources mentioned the 440 billion euros ($611.4 billion) account, set up this past year, might have about 250-275 billion euros available after quantities are set aside for assistance to Greece, Ireland and Portugal and for the recapitalizing the region's banks. That amount could be scaled up around four times, coming to a figure of around 1.0 billion. "The percentage of the influence will soon be of at the very least 4 times," one supply said, while still another said the extra capacity available to be utilized was 250 billion to 275 billion. Once discussions over another bailout bundle for Greece are decided the precise quantity of money available is only going to be identified. Area of the issue is agreeing on credit enhancements for the private sector. More credit improvement will certainly reduce the quantity of resources in the EFSF for using. Meanwhile, Reuters also noted Wednesday evening that French President Nicolas Sarkozy may consult with Chinese President Hu Jintao on Thursday about improving the EFSF. A European Union source was cited by the report.