Germany at odds with Dutch and IMF boss over eurozone bailout fund

Germany threatened to undermine this week's last-minute €130bn (£110bn) deal to bail out Greece by refusing to increase the firewalls to prevent the eurozone debt crisis spreading. Angela Merkel's chief spokesman said Berlin saw "no necessity" to enhance the planned €500bn European Stability Mechanism (ESM), the new bailout fund due to be in place from July. This sets the German government at loggerheads with not only the Dutch government but also the IMF and its managing director, Christine Lagarde. Both want the ESM to embrace funds still untouched within the current rescue fund, the ... (full story^[1])