European policymakers do not know how it will strengthen the European Financial Stability Fund (EFSF), the effect will be how, what impact might credit
Beers said. But he said the potential credit impact of alternative measures may be in different ways, including France and Germany, the euro-zone leaders.
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George Soros, the IMF annual meeting held during the meeting, said the euro zone rescue fund European Financial Stability Fund is still in an embryonic state does not have the actual rescue capabilities.
while the S & P director of sovereign ratings Beers warned that strengthening efforts to cope with the euro zone debt crisis in Europe, there is the potential to lead to credit rating downgrades in the region.
last Saturday, the U.S. Treasury Secretary Timothy Geithner warned the Greek debt crisis is not solved in time, will bring large-scale debt default, the collapse of the banking system and the devastating impact. Geithner urges Governments, in cooperation with the European Central Bank, to establish a "firewall" to prevent the European sovereign debt crisis has further expanded, and called on the European Financial Stability Fund to raise borrowing limit in the IMF's official statement. In addition, Geithner also reiterated the need to prop up the U.S. economy in the short term as well as a number of initiatives to reduce long-term debt deficit. (Author: Xu Ke)
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Soros said, believe that the euro zone sovereign debt problems will eventually be resolved, but the Greek may be unable to actually avoid default. Greece default, the protection of the European banking system and to avoid the crisis spread to other European countries is very important. The current debt situation in Europe will give the global economy have a serious impact; slowdown in emerging market economies and the financial crunch in the United States, the euro zone sovereign debt problems will lead to the global economy is facing financial and credit crunch.
Soros also said that due to tight dollar liquidity of the European banking sector, the European banks are to recover the U.S World Pipe network informed. dollar line of credit to emerging markets, which pose a serious threat to the global economy.
while the German Parliament will be the 29th vote to decide whether to allow the European Financial Stability Fund (EFSF) to buy sovereign bonds in the secondary market, and size from the current 250 billion euros to expand to 440 billion euros.
hope to find more resources to the protection of the euro area from the debt crisis European officials are considering the lever to expand the € 440 billion fund influential way but the way is not clear.
As the birthplace of the debt crisis in Europe, Greece has been no give up any opportunity to save themselves. On the 21st of this month, the Greek government decided to cut public sector wages and pensions, a new round of more stringent austerity policy measures to reduce the personal income tax threshold and the reduction of state-owned sector employees, the purpose is to get the breach of contract required to avoid debt € 8 billion emergency assistance loans. the
International Monetary Fund (IMF) and World Bank (World Bank) came to an end, although the BRIC countries interested in assistance in crisis in Europe, but how to aid Europe, the ministers are still hard to reached a consensus. Analysis pointed out that to prevent the spread of the debt crisis, Europe may have to speed up the self-help pace. The euro area due to the escalation of the crisis berated officials began to develop new programs world pie network information , foremost of which is to strengthen crisis assistance to fund the EFSF.