Photo: Matt Lemmon on Flickr
Official estimates on how big the “EuroTARP” EFSF fund would have to be in order to stabilise banks and European markets in the event of a Greek or other default are out.European Central Bank Governing Council member Klaas Knot said today that the EFSF should be funded with $1.3 trillion or more.
His predecessor, Nout Wellink suggested it should be $2 trillion.
The funding could come from private investors, although there’s some question about who would be interested in investing in it.
As it stands now, the EFSF isn’t really much of anything. It doesn’t have enough money. “It’s not in existence yet,” says George Soros. Hopefully that will change soon.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.