UK, Japanese Officials Weigh In on More IMF Lending
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The U.K.’s Chancellor of Exchequer, George Osborne, and Japan’s Finance Minister, Jun Azumi, are quoted in an article in the Financial Times newspaper, stating both countries are willing to be more supportive of the IMF, but would only increase the Fund’s resource base if the currency bloc would be more willing to meet certain conditions.
The Chancellor and Minister both later went on to reaffirm their concerns with the Volcker rule, Dow Jones reported Thursday morning.
"Crucially, IMF resources cannot be a substitute for further steps by the euro zone to support their currency," Osborne and Azumi said. "The euro zone must increase the resources of its firewall, so the markets can be reassured that it can respond to any eventuality."
The Chancellor and Minister both later went on to reaffirm their concerns with the Volcker rule, Dow Jones reported Thursday morning.
"Crucially, IMF resources cannot be a substitute for further steps by the euro zone to support their currency," Osborne and Azumi said. "The euro zone must increase the resources of its firewall, so the markets can be reassured that it can respond to any eventuality."
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