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EU Said to Weigh Using Bailout Fund

Brussels summit will consider a number of options for stemming debt crisis.

By James G. Neuger, Bloomberg | Updated on July 20, 2011

European officials are considering steps previously rejected by Germany, including the use of precautionary credit lines, to prevent the spread of the region’s debt crisis, a person close to the talks said.

Other options up for discussion at tomorrow’s Brussels summit include enabling the main 440 billion euro ($626 billion) rescue fund to lend to recapitalize banks, said the person, who declined to be named because negotiations are in progress. Nothing will be decided until leaders convene.

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