European Leaders Face Hurdles Over IMF Loan
BY COSTAS PARIS, MATINA STEVIS AND MATTHEW DALTON
BRUSSELS—European Union finance ministers were holding emergency talks Monday in a bid to finalize a multibillion-euro loan to the International Monetary Fund and other steps to build a credible firewall around Italy and Spain, but continued political resistance means commitments are likely to fall short of expectations.
A target for a total contribution of €200 billion ($260 billion) in the form of additional bilateral loans to the IMF by the European Union aren’t likely to be reached, IMF and euro-zone officials said Monday, because the euro zone has to overcome objections to the deal from the U.K. as well as …
Article source: http://online.wsj.com/article/SB10001424052970204791104577107974167166272.html?mod=googlenews_wsj
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