December 5, 2011
European governments might channel hundreds of billions of euros to the International Monetary Fund to enable it to tackle the euro crisis, German newspaper Die Welt reported on Monday. The US Federal Reserve may also contribute.
European governments are considering boosting the funding of the International Monetary Fund to enable it to tackle the debt crisis more effectively, German newspaper Die Welt reported on Monday.
Citing unnamed sources close to the negotiations, the newspaper reported that the 17 national central banks of the euro zone would pay "a three digit billion sum" into a special fund which would fund programs for crisis-hit nations.
Die Welt also said that other central banks such as the US Federal Reserve were prepared to finance part of the costs. US Treasury Secretary Timothy Geithner is scheduled to travel to Europe this week to meet politicians and central bankers.
The plan could be on the agenda of talks between Chancellor Angela Merkel and French President Nicolas Sarkozy in Paris on Monday.
The two leaders are meeting to discuss plans for a change in the European treaties to force euro nations to maintain budget discipline, and to agree a common position ahead of what is being billed as a make-or-break EU summit for the euro on Thursday and Friday.
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