Monday, November 28, 2011

IMF drawing up £500bn package to save Italy, Spain and the euro

IMF drawing up £500bn package to save Italy, Spain and the euro
The International Monetary Fund is being lined up potentially to help Italy and Spain amid growing fears that a European rescue scheme will not be able to prop up the countries.

Reports in Italy suggested that the IMF is drawing up plans for a €600 billion (£517 billion) assistance package for the country. Spain may be offered access to IMF credit, rather than a rescue package, to avoid it being “picked off” by the markets in the coming weeks.

http://www.telegraph.co.uk/finance/financialcrisis/8919470/IMF-drawing-up-500bn-package-to-save-Italy-Spain-and-the-euro.html

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