European leaders said they believed the €200bn increase in their fiscal rescue fund agreed on Friday would be enough to persuade non-eurozone countries that Europeans had "done our homework" and lead them to supplement eurozone efforts by building their own global firewall against contagion.François Baroin, the French finance minister, said after two days of meetings here with his European counterparts that "Europe has done its part", suggesting it was now up to other large global economies to contribute to an enlarged International Monetary Fund war chest.
Wolfgang Schäuble, the German finance minister, said he wanted to put an end to speculation that the fund would be increased any further, adding that the eurozone has "now given our contribution" and had lived up to its "global responsibility."
"There is no sum with which you can convince financial markets," Mr Schäuble said, referring to the size of the eurozone firewall. "You can only be convincing with structural measures," Read More
