G20 says no action before euro area boosts firewall, Germany to vote on Greek bailout


In the G20 two-day meeting over the weekend which gathered finance chiefs of economic superpowers in Mexico tackled boosting bailout fund to combat debt crisis next month, yet they revealed that the fund would not replace a stronger rescue fund by euro area. U.S. Treasury Secretary Timothy Geithner said “there is broad agreement that the IMF cannot substitute for the absence of a stronger European firewall and the IMF cannot move forward without more clarity on Europe’s own plans.” By the same

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