Schaeuble rejects calls to boost eurozone firewall

German Finance Minister Wolfgang Schaeuble again rejected calls to boost the eurozone's firewall and said that all indications so far are that the size right now is sufficient.

In an interview with the Stuttgarter Zeitung newspaper on Friday, Schaeuble said he was opposed to any increases in the eurozone bail-out schemes, the European Stability Mechanism (ESM) or the European Financial Stability Facility (EFSF).

"What speaks against this discussion [to boost the volume] is the that we shouldn't be chasing after the latest fad every week," Schaeuble said, according to an advance released by the daily.

He added the regular demands for more and more funding for the firewalls was only fuelling uncertainty. Schaeuble said the current levels are sufficient.

"Everything at the moment suggests that the rescue measures are sufficient," he said. Schaeuble said only about €43.7 billion (£28 billion) of the €440 billion EFSF has so far been tapped and thus there was still considerable scope available.

Chancellor Angela Merkel's conservative allies have already warned against committing additional German funds to eurozone bail-out schemes.