G-20 considers boosting IMF role in eurozone

October 16, 2011 • Business

G20 finance ministers are gathered for a group picture at the French finance ministry in Paris, Saturday Oct. 15, 2011. Finance ministers and central bank governors of the world’s leading economies are gathering in Paris to discuss how to save Greece from bankruptcy, beat a path out of Europe’s wider debt crisis and restart global economic growth. First row from left: China’s Xie Xuren, Germany’s Wolfgang Schauble, France’s Francois Baroin. Second row from left: Brazil’s Guido Mantega, Canada’s Jim Flaherty, Japan’s Jun Azumi. Third row: Mexico’s central bank governor Agustin Carstens, Britain’s central bank governor Mervyn King, Japan central bank governor Masaaki Shirakawa, Canada central bank governor Mark Carney. Last row: Australia central bank governor Glenn Stevens, Turkey central bank governor Erdem Basci, Indonesia central bank governor Darmin Nasution, and US central bank’s Janet Yellen.(AP Photo/Remy de la Mauviniere)

PARIS (AP) — The finance chiefs of the world’s leading economies opened the door Saturday for the International Monetary Fund to play a bigger role in fighting the eurozone’s escalating debt troubles.

The Group of 20 rich and developing nations asked the IMF to propose ways that it could help stop countries under severe market pressure from toppling into a full-blown crisis with potential global repercussions.

The move appeared aimed at Italy and Spain, the eurozone’s Login to read more

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