Ivan, you are a fellow slav yes ? look up prophecies of baba Vanga for Nov 2010 not pretty man, not pretty
Crap, I should have known that by putting "end of the world" in any text whatsoever, I'd attract the latest incarnation of cold/c-kid.
I think G7 recognize the European debt scourge is beyond remedy. IMF is the natural bailout vehicle because it shields the perpetrators of debasement from public ire. The IMF loan reserve just buys the G7 more time to deal with the sovereign debt problem that is not going away. Until Europe and America drastically cut Government spending and default on some of their obligations (especially to the Fed and ECB), nothing meaningful will come of it. More debt cannot be solved with more debt. It's just a punt down the field. There's nothing between us an the next Great (Inflationary or Deflationary) Depression, except time. And that's what all this jiggering and loan facilities is about: Time.