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Italy Reportedly in Exploratory Talks With IMF for Aid

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Wednesday, November 30, 2011

Italy has had preliminary discussions with the International Monetary Fund about financial support to cope with the euro zone’s debt crisis, possibly co-funded by national European central banks, but no decision has been taken, several sources close to the situation said.

New Italian Prime Minister Mario Monti was briefing euro zone finance ministers on his fiscal plans on Tuesday but the sources said no formal request for IMF assistance was expected before he presents his budget to the cabinet on Dec. 5.

In Spain, the center-right People’s Party (PP), which won a Nov. 20 general election, is considering seeking international aid as one option for shoring up Madrid’s public finances, according to sources close to the party.

The PP and the outgoing Socialist government denied there were any such talks.

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This article was posted: Wednesday, November 30, 2011 at 5:05 am

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