According to Lagarde said, “the members of the Executive welcomed the commitment of Europe to contribute to their resources, but stressed the importance of firewalls and other European measures are strong enough to cope with the crisis in the euro area “. “The staff of the Fund will consider increasing its capacity to respond, subject to suitable safeguards,” he said. Currently, the fund’s resources are about 385 billion (300 billion euros), but the CEO in late September and the need to expand this fund’s performance. Until now, the only ones who have pledged to put more money into the International Monetary Fund have been members of the euro area with the announcement of an additional contribution of 150,000 million euros (more than 190,000 million). United Kingdom, despite the divorce of the December summit, and the other EU countries, but share the common currency would further 50 billion (64.1 billion), as agreed at that meeting. Therefore, if you add the money they have already committed the countries of the euro area with what is already in the coffers of the fund, its capacity would be about 575 billion, which would have no further 300,000 million emerging and Japan. With their input, the countries of the Old World to avoid possible accusations of other countries that are reluctant to scratch their pockets to help Europe if Europe itself before your money does not, as called for in the Cannes summit of the G-20 November .

Shows there are those who openly opposed to raising funds for the International Monetary Fund, the United States, which is precisely the main donor agency with a stake of 40%.The reason is that Congress, which necessarily have to pass this decision will not approve a disbursement for Europe in the pre-election period. To date, the IMF has provided tens of billions to save Greece, Portugal and Ireland. Along with this, also had to come to the aid of some states in Eastern Europe. The news, which was made public when he spoke of expanding the resources for a trillion dollars has allowed the majority of European stocks are moving across the field of income for most of the morning. However, its benefits have been diluted during the day, and after the opening of Wall Street, have returned in the case. The main objective uncertainty, Greece was again the difficulty of closing a deal with the country’s private creditors to accept the forgiveness of their debts. At the close, the Dow, which actually was not able to join the rest increases during the first hour, or 1.34% was left, which put the Spanish team European red lantern. Frankfurt and London were the only ones who managed to finish the day in green (0.34% and 0.15%), while Paris is down 0.16% to 0.30% and around Milan. At that time, Wall Street rallied 0.40%. In currency markets, the euro has come to be listed again on the $ 1.28. Of debt, the risk premium, which is the spread between 10-year high against the Germans, reference, increased slightly narrower than yesterday (336 basis points, two more) after the fall to 327 at noon. As for the debt of other countries under pressure and in France a little ‘worse, while the required premium for Italian securities fell by about 8 points to 463.

Source: http://www.elpais.com