Brussels (Reuters) - Ministers of Finance of zone Euro are likely to consider next week, the possibility of increasing the effective ability of loan from the Fund of assistance of eurozone's efforts to calm markets, said of the sources of the eurozone sovereign debt.
Opportunity to strengthen the real capacity of the European financial Stablity (CEES) installation to a full 440 billion euros, about $ 250 billion could be part of
movement to strengthen the confidence of markets in the euro area.
"I think that this increase in the capacity of the CEES is something that will certainly be on the table next week," said euro zone source of knowledge of the preparation of the meeting of Finance Ministers eurozone Monday.
"It's essentially the whole 440 billion operations", said the source. "I think it will be given at least seriously next week."
A second source of eurozone has confirmed that this possibility had was discussed at a preparatory meeting for the meeting of the Ministers, although none of the decisions taken and none have been planned until next week.
It does y no decision on anything specific yet. "It's matter of Ministers", said the second source.
Economists have indicated that a more substantial increase in funds of rescue, 1-2 trillion of the current EUR 750 billion, would be necessary to appease investors.
Markets fear that the eurozone may not having enough cash loans in support of countries such as the Spain or the Belgium if the Portugal follows Ireland to apply for financial assistance and others are obliged to make too.
But a more substantial increase in funds available for the CEES seems unlikely now.
"Double or triple EEHC will not be seriously taken into consideration at this stage - for a number of Member States, the limit is the 440 billion which was agreed in May and it would be a fundamental step in addition to discuss something," said the source.
Euro area Governments agreed in May to guarantee the issuance of the CEES, which raises money to help Governments frozen in the market, up to 440 billion euros.
To secure a triple a rating of bonds issued by euro area Governments that are not frozen special purpose vehicle to guarantee bonds issued by the CEES in a proportion of 120 percent of their share in the capital of the European Central Bank.
"We talk about more or less double guarantees to obtain the full 440 billion, it would be enough perhaps less increase, but we do not err error on the small side," the source said.
Sources of the zone euro said more adjustments to EEHC might include lowering the margin of penalty charged the CEES loans to countries frozen out of the current 300 basis points and lowering cash buffer.
Ireland was the first country to apply for money from the CEES and his experiences with the program could form the basis of a review of the mechanism.
"We now have the first experience of the GED with the Ireland... also, it is possible that a number of things may be adjusted at the same time,"says the source."
"It might be not only the effective ability but also margin reserves of cash, etc. - it could be an adjustment of the CEES after the first experiment," said the source.
A third source said that discussions of the euro area Finance Ministers Monday would be largely determined by the result of the auction the eurozone bond this week, especially of the Wednesday Portugal.
Market players are to be expected that rising market financing costs will be force Portugal to apply for the euro area and the Monetary Fund International helps soon.
"In the case of the Portugal it much depends on how it goes to the auction of the binding of tomorrow; "The Portugal is a concern for us, but we'll see how it goes," said the third source of eurozone.
"This will be a question for discussion Monday - what to do - but it will depend on how the situation develops on a per day basis the source said."
The source said that no there was so far no talks on a Portuguese rescue plan at least no way "structured."
(Reporting by Jan Strupczewski.) (Editing by Ruth Pitchford)
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