Euro Officials Say EFSF Has Enough Funds

European leaders may struggle to deliver their new fiscal rules and cut Greece’s debt burden as their efforts come increasingly under fire. Greek officials will reconvene with creditors tomorrow after discussions stalled last week, while governments in Europe are preparing for a Jan. 30 summit.

The policy response to the crisis “has not kept up” with the risks, which remain “firmly tilted to the downside,” Moritz Kraemer, S&P’s managing director of European sovereign ratings, said on a conference call on Jan. 14.

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