BRUSSELS — Top European officials insisted Monday that they have enough financial firepower right now to deal with Europe’s government-debt crisis — but did not rule out increasing Europe’s bailout fund in the future.
Jean-Claude Juncker, who chaired a meeting of the euro zone’s 16 finance ministers, said there wasn’t any immediate need to increase the $1 trillion financial backstop despite concerns that it isn’t enough. The fund is for euro-zone governments in danger of running out of money.
The big fear in the markets is that Portugal and much bigger Spain will join Greece and Ireland in needing a financial lifeline — and that Europe might not have enough bailout money available to cope and keep countries that run into financial trouble from defaulting on their debts.
