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Top European Economies Agree IMF Economic Emergency Fund Should Top $500B


Europe’s four largest economies - Germany, Britain, Italy, and France - have just wrapped up an emergency meeting in Berlin to deal with the global economic crisis that is especially hurting eastern-northern European countries. They have collectively agreed that the IMF emergency fund should be doubled, if not more than doubled to at least $500 billion. The move comes to help counter a possible long lasting worldwide depression. British PM Gordon Brown is also preparing to inject the UK’s Northern Rock bank with £14 billion in capital to encourage lending and to help revive the mortgage market in the UK.

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