[ 2012-02-28 ]

The G20 finance ministers have called on eurozone economies to boost the region's rescue fund

G20 seeks eurozone bail-out boost
Eurozone countries need to put more money in their
rescue fund before G20 nations can step in to help
them, the G20 finance ministers have said.

They said such a move was "essential" to their
decision to provide more resources to the
International Monetary Fund (IMF) to help the
region.

Earlier this month, eurozone leaders set up a
permanent bail-out fund of 500bn euro ($673bn;
£420bn).

There are concerns the fund may not be able to
rescue a deeply indebted state.

"We have to see the colour of the eurozone's money
first - and quite frankly, that hasn't happened,"
the British chancellor George Osborne said.

"Until it does, there's no question of extra IMF
money from Britain or probably anyone else."

Source - BBC

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