Friday, March 20, 2009

Crisis Rundown

The EU will double, to 50 billion euros, the reserves available to aid eastern countries in financial difficulty. It is also calling for a doubling of IMF funding. These are welcome moves. Meanwhile, the prospective G20 agreement on financial regulation has leaked. The IMF is asking for more stimulus from G20 countries. So are European socialists. Lorenzo Bini Smaghi of the ECB takes a different view, however (h/t Eloi Laurent).

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