Emerging countries in talks on IMF boost for European debt crisis

Discussion in 'Wall St. News' started by ASusilovic, Oct 14, 2011.

  1. Emerging market countries are working on ways to contribute money rapidly to expand the effective firepower of the International Monetary Fund, with the aim of increasing its role in combating the eurozone sovereign debt crisis.

    The discussions, in parallel with talks in the eurozone about creating a bigger “bazooka” to intervene in financial markets, are aimed at producing a confidence-boosting announcement by the Group of 20 heads of government summit next month.

    People familiar with the discussions say governments are considering either funding an IMF-run special purpose vehicle (SPV) or lending to the IMF by buying special bonds. Although details have not been worked out, the increased firepower could be used to finance new IMF credit lines to prevent contagion from the Greek crisis spreading to Italy and Spain, or to recapitalise European banks.

  2. On they go, financing unelected, uncontrolled organisations with taxpayers money to sustain club Med Companies and to push business competition under the carpet. Come on! More bailouts, more QE, more IMF, more power to states and politicians!
    The only way for us to be profitable, is if this system crashes: TOTAL COLLAPSE.