BERLIN, Sept 23 (Reuters) - It is "extremely important" that Europe has a fallback mechanism for countries in fiscal trouble, the head of the European Financial Stability Facility (EFSF) said on Thursday.
"The EU budget is very small for good reasons and the markets have been questioning what would happen, given that there is no central fiscal authority," said EFSF Chief Executive Klaus Regling at a conference in Berlin.
"Therefore I think it is extremely important that there is a fallback mechanism," he said. (Reporting by Sarah Marsh and Noah Barkin)