EU Commission: EFSF big enough for time being

BRUSSELS (Reuters) - The European Commission believes the European Financial Stability Facility (EFSF) is big enough for the time being to assist countries in need, and that the size of the fund would be reassessed if necessary.

"For the time being, we think that the level of the EFSF is enough, but as the president also said in his letter that he sent 10 days ago to the leaders of the euro area, we said very clearly that we should reassess this amount if there would be a need for more support," Commission spokesman Olivier Bailly said on Tuesday in answer to a question at a regular briefing.

He was referring to a letter sent by Commission President Jose Manuel Barroso to euro zone leaders addressing the functioning and structure of the EFSF.