Today's Coming Crisis Movie

Monday, November 28, 2011

IMF Denies Italian Bailout Package Talks - 28th Nov 2011

The International Monetary Fund has poured cold water on market hopes that it is preparing a substantial financial aid package for debt-laden Italy.

Following media reports in Italy at the weekend, the IMF released a statement to deny suggestions talks had been held.

It had been reported by La Stampa that the world's lender of last resort would release a fund worth up to 600bn euros - potentially side-stepping the eurozone's own rescue mechanisms because of the huge sums involved.

Italy has been generally seen as 'too big to bail out' and the feasibility of such a deal may have been called into question by contributors to the IMF, including Britain.

"There are no discussions with the Italian authorities on a programme for IMF financing," said a spokesman. Read More