EFSF expansion plans fail to convince credit investors as EU leaders branded ‘indecisive’

Investors hoped European leaders would finally provide clarity on their plans to resolve the Eurozone funding crisis at summit meetings in March. But the solutions offered have done little to dispel unrest in the market

Binary-minded commentators had been heralding March as a make-or-break month for the Eurozone as the European Union provided details on facilities that would keep struggling peripheral countries solvent beyond 2013.

Optimists in the market had hoped that European leaders would hammer out details of how both the European Financial Stability Fund (EFSF) and its 2013 successor, the European Stability Mechanism (ESM), would be administered to countries in need of aid to meet their schedule of