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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: studdog who wrote (86041)	1/18/2012 1:26:50 PM
From: elmatador	Read Replies (1) \| Respond to of 218597

IMF seeks $600 billion more in funds to help countries reeling from the euro zone debt crisis, but some nations insist that Europe must first do more to support its ailing members, international financial sources said on Wednesday. Group of 20 officials will discuss increasing IMF resources at a meeting in Mexico City on Thursday and Friday, the first under Mexico's 2012 presidency of the group of developed and emerging economies. The IMF said in a statement it will need $500 billion to lend to member countries in need, and IMF sources who were present at an IMF board meeting on the issue on Tuesday told Reuters that another $100 billion is needed as a "protection buffer." The IMF also estimated there would be a $1 trillion global financing gap over the next two years if global economic conditions worsened considerably, the sources added. On foreign exchange markets, the reports of plans for increased IMF lending capacity helped boost the euro. Euro zone nations have already promised to inject an extra 150 billion euros ($200 billion) into the IMF, which is included in the total estimate, but G20 officials in Mexico for the meeting of deputy finance ministers and central bank officials said there was still resistance in some quarters to increase funding. "Many countries want the Europeans to move ahead with tougher and clearer measures, which at this moment translates to more resources to its stability fund," said a senior Brazilian government source attending the meeting. Another source connected to the process said the United States, Canada, Japan and Korea were pressing for discussions first about Europe's contribution to the crisis and for it to agree on additional measures, while European nations were arguing that they have done enough and were calling for more IMF resources now. "If, with the parallel discussion, we can achieve extra measures from the Europeans and afterwards agree on promises of additional resources for the IMF from non-European countries in the G20, I think it would be a good result," the source said. RESOURCES STRETCHED The IMF currently has a lending capacity of about $380 billion. When consulted, an IMF spokesman said: "Based on staff's estimate of global potential financing needs of about $1 trillion in the coming years, the fund would aim to raise up to $500 billion in additional lending resources. This total includes the recent European commitment of about $200 billion in increased fund resources." "At this preliminary stage, we are exploring options on funding and will have no further comment until the necessary consultations," he added. Emerging market countries such as China and Brazil have said they are willing to contribute new resources to the Washington-based global lender in exchange for greater voting power. Emerging market powers have repeatedly argued in recent times that their power at the IMF should be increased to reflect their growing clout in the world economy. Getting more resources from advanced economies, such as the United States, is going to be difficult, if not impossible. With a strained budget at home, some U.S. congressional Republicans have threatened to yank $100 billion in U.S. money to the IMF if the funds are used to bail out more euro zone countries. The White House is unlikely to want to take on the issue as President Barack Obama seeks reelection this year. The IMF's managing director, Christine Lagarde, said on Tuesday she met with the IMF board to assess whether the global lender needs additional funds to respond effectively to the euro zone crisis and said IMF management would explore options for increasing the fund's firepower. The IMF has warned it will cut global growth projections for 2012 when it updates its forecast on January 24. Weakening global growth prospects raise fears that more countries will need to be rescued by the IMF, especially if capital markets freeze up completely. The World Bank warned in its annual growth outlook late on Tuesday that Europe appears to already be in recession and developing countries should brace for a slowdown in their economies, especially Brazil and India, and to a lesser extent Russia, South Africa and Turkey. With credit downgrades in nine euro zone countries by Standard & Poor's last week, including France, and uncertainty over Greek debt talks that risk pushing the country into default, the IMF board has urged euro zone leaders to take steps to contain the crisis. The board called for policies that would address the European crisis and for euro zone policymakers to make sure there is enough money available to tackle the bloc's debt problems effectively. ($1 = 0.7851 euros) (Additional reporting by Alonso Sota in Brasilia and Krista Hughes in Mexico City; Editing by W Simon and Leslie Adler) reuters.com

To: studdog who wrote (86041)	1/19/2012 9:35:45 AM
From: Riskmgmt	2 Recommendations Read Replies (3) \| Respond to of 218597

A MUST READ!! A politician speaking plain English with no political correctness? Wow!! American politico's could learn from this Aussie. Makes me want to be an Australian. Good on ya mate. Julia Gillard's speech: “IMMIGRANTS, NOT AUSTRALIANS, MUST ADAPT . . . Take It Or Leave It. I am tired of this nation worrying about whether we are offending some individual or their culture. Since the terrorist attacks on Bali , we have experienced a surge in patriotism by the majority of Australians. This culture has been developed over two centuries of struggles, trials and victories by millions of men and women who have sought freedom. We speak mainly ENGLISH, not Spanish, Lebanese, Arabic, Chinese, Japanese, Russian, or any other language. Therefore, if you wish to become part of our society . Learn the language! Most Australians believe in God. This is not some Christian, right wing, political push, but a fact, because Christian men and women, on Christian principles, founded this nation, and this is clearly documented It is certainly appropriate to display it on the walls of our schools. If God offends you, then I suggest you consider another part of the world as your new home, because God is part of our culture. We will accept your beliefs, and will not question why All we ask is that you accept ours, and live in harmony and peaceful enjoyment with us. This is OUR COUNTRY, OUR LAND, and OUR LIFESTYLE, and we will allow you every opportunity to enjoy all this. But once you are done complaining, whining, and griping about Our Flag, Our Pledge, Our Christian beliefs, or Our Way of Life, I highly encourage you take advantage of one other great Australian freedom, THE RIGHT TO LEAVE. If you aren’t happy here then LEAVE. We didn’t force you to come here. You asked to be here. So accept the country YOU accepted.”