China to set aside 43bn for IMF; EU looks to "banking union"

China will contribute USD 43 billion toward the strengthening of the International Monetary Fund (IMF) reserves for fighting the economic crisis.

Izvor: Tanjug

Tuesday, 19.06.2012.

11:15

Default images

China will contribute USD 43 billion toward the strengthening of the International Monetary Fund (IMF) reserves for fighting the economic crisis. This was confirmed on Tuesday in a report of China's state news agency Xinhua, which, however, did not offer any other details. China to set aside 43bn for IMF; EU looks to "banking union" Reuters reported at the same time that BRICS (Brazil, Russia, India, China, South Africa) leaders, who met in Los Cabos, Mexico, for the G20 summit, announced that they "agreed to increase their contribution to the IMF". The BRICS states wish to link these funds to long-delayed reforms that would give developing countries more influence within the Washington-based organization. Meanwhile, the news agency is reporting from Mexico that the summit's final communiqué will stress the need for the EU to "further integrate its economy", which could include a centralization of fiscal powers. The report cites three unnamed sources who said that a "banking union" will be mentioned in the document. Reuters notes that Germany strongly supported giving more powers to the European Central Bank - but refused to accept a pan-European deposit guarantee scheme and bank resolution fund "before member states have agreed to cede sovereignty over their budgets". BRICS leaders at Los Cabos, L-R: Dilma Rousseff, Vladimir Putin, Manmohan Singh, Hu Jintao and Jacob Zuma (Beta/AP) Tanjug

China to set aside 43bn for IMF; EU looks to "banking union"

Reuters reported at the same time that BRICS (Brazil, Russia, India, China, South Africa) leaders, who met in Los Cabos, Mexico, for the G20 summit, announced that they "agreed to increase their contribution to the IMF".

The BRICS states wish to link these funds to long-delayed reforms that would give developing countries more influence within the Washington-based organization.

Meanwhile, the news agency is reporting from Mexico that the summit's final communiqué will stress the need for the EU to "further integrate its economy", which could include a centralization of fiscal powers.

The report cites three unnamed sources who said that a "banking union" will be mentioned in the document.

Reuters notes that Germany strongly supported giving more powers to the European Central Bank - but refused to accept a pan-European deposit guarantee scheme and bank resolution fund "before member states have agreed to cede sovereignty over their budgets".

Komentari 2

Pogledaj komentare

2 Komentari

Možda vas zanima

Stiže novi "pakao"; Spremite se 1
Društvo

Stiže novi "pakao"; Spremite se

Kao u prvih 15 dana aprila, ovaj mesec će se završiti natprosečnim temperaturama. Prema najavi RHMZ u nedelju i do prve polovine naredne sedmice temperature će dostići letnje vrednosti.

7:21

26.4.2024.

1 d

Podeli: