Euro zone crisis dominates G20 Paris meeting

[Dover]

Source: Reuters

(Reuters) - The euro zone debt crisis will dominate a summit of G20 finance chiefs and central bank heads in Paris, with a downgrade of Spain's credit rating highlighting the risk of a much larger economy than Greece coming under threat.

French and German officials are trying to put flesh on the bones of a crisis resolution plan in time for a European Union summit on October 23 and parallel discussions are taking place on the need to give the International Monetary Fund more firepower.

South Africa's finance minister said the IMF and euro zone's EFSF rescue fund were ill equipped to deal with a worsening euro crisis that spreads beyond Greece.

"The resources available in the EFSF and IMF are not adequate if the contagion is going to spread any further," Pravin Gordhan said in Paris...



Read more: http://www.reuters.com/article/2011/10/14/us-g-idUSTRE79C74G20111014

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A dream venue for occupation, eh?