IMF Readying Loan of as Much as $794 Billion for Italy, La Stampa Reports
Italy debt 'problem' would hit heart of eurozone: France
PARIS: France warned Sunday that any problem with heavily-indebted Italy would affect the very heart of the eurozone. The statement from President Nicolas Sarkozy's office came as an Italian newspaper reported that the International Monetary Fund (IMF) could bail out Italy with up to 600 billion euros ($794 billion).
"If there is an Italian problem, then it is the heart of the eurozone that is hit," the statement said. "It is up to Italy to do what it has undertaken to do."
http://economictimes.indiatimes.com/news/international-business/italy-debt-problem-would-hit-heart-of-eurozone-france/articleshow/10896047.cms
Germany heads for isolation on ECB role
Brussels - Germany faced mounting pressure on Sunday to let the European Central Bank (ECB) save the euro, as reports surfaced of IMF contingency bailout planning for a re-modelled Italy.
With bond market vultures circling even gold-plated economies, and Italy's La Stampa daily citing IMF officials on a rescue plan worth up to €600bn, another of Germany's closest Triple A-rated allies jumped ship on the ECB's role to leave Berlin isolated.
Amid predictions that the currency faces its death throes within weeks failing radical intervention, Austria joined Finland in backing ECB action to stem financial market contagion threatening Italy, Spain and even France.
http://www.fin24.com/Economy/Germany-heads-for-isolation-on-ECB-role-20111127
Sunday, 27 November 2011
Posts
