Weekend Economists Wild, Wild, World Roundup February 17-19, 2012

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57. Japan, China to coordinate on IMF efforts on euro zone

http://uk.reuters.com/article/2012/02/19/us-japan-china-idUKTRE81I03Q20120219

(Reuters) - Japan and China agreed on Sunday they will jointly respond to any funding request from the International Monetary Fund, which is looking to more than double the size of its war chest to help countries deal with the euro zone crisis.

Japanese Finance Minister Jun Azumi, after meetings with Chinese Vice Premier Wang Qishan and Finance Minister Xie Xuren, said the two countries were ready to support the IMF but further efforts by euro zone members were necessary.

"What we agreed on...is that European countries need to do more, although (the situation), including Greece, is headed in a good direction," Azumi told reporters in Beijing.

"We can expect some sort of request from the IMF to those including the United States, Japan and China. We agreed that Japan and China will coordinate closely and will jointly respond to IMF."