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Belgian premier: bailout fund should have more than euro1 bln to keep debt crisis from spreading
BRUSSELS (AP) ' The prime minister of Belgium says the eurozone's bailout fund should have a firepower of more than euro1 trillion ($1.4 trillion) to prevent the currency union's debt crisis from spreading.
Yves Leterme said Tuesday "I think that effectively, it has to be able to intervene a good deal beyond euro1 trillion."
He was heading into a crucial emergency summit of European leaders in Brussels.
At the summit, the leaders will seek to set up a complicated scheme to give the euro440 billion bailout fund more leverage, reduce Greece's massive debt and strengthen banks across the continent.