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Germany does not want the future fund to run in parallel with the current one (Photo: Stephanie Jones)

EU to channel €150bn to IMF for its own rescue

EU leaders are discussing an increase of Europe's contribution to the International Monetary Fund by €150 billion, which in turn could be used to rescue troubled euro-countries.

Central banks in the 17 states of the eurozone may increase their contribution to the IMF by a total of €150 billion, a senior EU official told reporters in Brussels under condition of anonymity. Another €50 billion may come from other non-eurozone countries, the source added.

Half the sum would go to trou...

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