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Friday, November 4, 2011

My Way News - G-20 rejects extra help for debt-strappd Europe

My Way News - G-20 rejects extra help for debt-strappd Europe
Posted by RAYLOKE at 11:54 AM

1 comment:

  1. RAYLOKENovember 4, 2011 at 11:55 AM

    Now, it's growing powers like China, Brazil and South Africa that have to decide whether helping Europe is a worthy investment.
    In an effort to do just that, Italy, the eurozone's third largest economy with a debt load of 120 percent of gross domestic product, asked the IMF for help monitoring promised budgetary and structural reforms on a quarterly basis.
    The country's borrowing rates have risen sharply this week - and jumped further on Friday - on fears that Prime Minister Silvio Berlusconi does not have the political strength to implement the reforms.
    Lagarde said the IMF hopes to start checking whether Italian measures promised to the eurozone are actually implemented by the end of November, to target "a lack of credibility."

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