Germany rejects rescue fund boost, Greece under pressure
(Reuters) - Germany, the only major euro zone member to retain a top-notch credit rating, refused on Monday to consider boosting the bloc's rescue fund, while Greece was under pressure to urgently break a deadlock in debt swap talks if it is to avoid an unruly default.
European leaders vowed to press ahead with a fiscal pact for stricter budget discipline and hasten the launch of a permanent bailout fund for the 17-nation euro area, the European Stability Mechanism, in the light of Standard & Poor's move last Friday.
http://www.reuters.com/article/2012/01/16/us-eurozone-idUSTRE80E0RN20120116
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