World economic powers at a Group of 20 gathering in Mexico City told Europe on Friday it would have to do more to fight its financial crisis before they agree to provide backup in the form of a bigger International Monetary Fund war chest.
Following are comments from policy-makers at the Group of 20 finance ministers and central bankers meeting in Mexico City.
Finance ministers and central bank chiefs from the Group of 20 countries will meet this weekend in Mexico City to tackle the euro zone's debt crisis and the prospect of replenishing the International Monetary Fund.
In the G-20 meeting to be held in Mexico City from Feb. 25, the U.S., China and Japan will ask Europe to take additional steps to solve the economic crisis before it could receive external help.
Greece took its first step toward reaping urgently needed funds agreed in a 130-billion-euro rescue package Thursday as its parliament endorsed a bond swap for private holders of its debt.
With citizens of debt-burdened European countries growing more disillusioned over spending cuts and other austerity measures, it may not be long before hard-line parties opposed to such policies begin to siphon support.
Greece's parliament endorsed a debt swap with private bondholders on Thursday that forms the core of its 130-billion-euro bailout, despite new protests against tough budget cuts demanded in return for the rescue deal.
Greece's parliament endorsed a debt swap with private bondholders on Thursday that forms the core of its 130-billion-euro bailout, despite new protests against tough budget cuts demanded in return for the rescue deal.
It is critical that Europe put up a convincing firewall against the risk of financial contagion from its debt crisis before more aid from the International Monetary Fund is discussed, a top Treasury Department official said on Wednesday.
European Union leaders will call at a summit next week for the world's 20 biggest economies (G20) to agree in April to substantially boost funds available to the International Monetary Fund, draft conclusions of the meeting showed.
Thousands of young Portuguese have migrated to Mozambique in recent years – reportedly as many as 120,000 in 2011 alone.
Police in Lille are holding the former banker after prostitutes said they had had sex with Strauss-Kahn during 2010 and 2011 in a string of luxury hotels in Pairs and Washington D.C.
Dominique Strauss-Kahn, former International Monetary Fund (IMF) chief is being questioned today by French police for his involvement in a prostitution ring. Dominique Strauss-Kahn, former International Monetary Fund (IMF) chief is being questioned today by French police for his involvement in a prostitution ring.
The loan comes just in time for Greece, which has to repay a maturing loan by March 20 to avoid bankruptcy.
European stock markets mixed in early trade Tuesday after eurozone finance ministers sealed a deal on second rescue package for debt-laden Greece.
Euro zone finance ministers reached an agreement to hand Greece a bailout package worth 130 billion euros ($171 billion) , to help the country avoid a default.
In a much anticipated decision, EU finance ministers have reached an agreement on the second bailout of 130 billion euros.
Euro zone finance ministers inched toward approving a second bailout for debt-laden Greece Monday night that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.
Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows.
There are some major concerns regarding the rescue package and the efficacy of the Athens government in imposing much-needed austerity.
European stock markets opened with gains Thursday as expectations mounted that the Greece bailout deal would be reached at the EU finance ministers' meeting Monday.
Eurozone finance ministers expected to approve second bailout for Greece to draw line under months of turmoil that has shaken the currency bloc.