German Chancellor Angela Merkel gave her support Wednesday to a possible modest increase the eurozone bailout fund as part of efforts to shore up cash-strapped Greece. Merkel told a closed-door meeting of parliamentary members of her Christian Democrats (CDU) that a 10 billion-euro (US$12.8 billion) increase in guarantees provided under the European Financial Stability Facility (EFSF) rescue mechanism, lawmakers said. Another option could be a big reduction of interest rates that Greece pays for loans. Lawmakers also said the chancellor indicated that a combination of both options was also possible, according to a report of DPA. The meeting with lawmakers followed the failure of eurozone finance ministers to reach an agreement at marathon overnight talks on releasing a new round of aid for Athens plans.
