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BADEN-BADEN, Germany, Oct. 24 (Reuters)—Munich Re backs the idea of using insurance to help resolve Europe’s sovereign debt crisis, a board member of the world’s biggest reinsurer said on Monday.

“Munich Re supports the proposal to use the €726 billion ($1 trillion) of EFSF funds to insure sovereign debt,” Munich Re board member Ludger Arnoldussen told a journalist briefing. The EFSF is Europe’s debt crisis rescue fund.

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