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Confusion over EFSF Is the New Euro Backstop Fund Just the Beginning?

Markets are convinced that Europe is preparing to massively increase the reach of the euro backstop fund known as the EFSF. But politicians have been just as quick to deny it. What is going on? Even before the EFSF is approved, it would appear that additional steps are under consideration.
Germany holds the reins when it comes to saving the euro.

Germany holds the reins when it comes to saving the euro.

DPA
cgh -- with wire reports