Bloomberg News

Juncker Seeks ‘Maximum’ IMF Involvement in Euro Crisis Plan

October 25, 2011

Oct. 25 (Bloomberg) -- Luxembourg’s Jean-Claude Juncker, who leads the group of euro-area finance ministers, said he wants the International Monetary Fund included “to the maximum extent” in Europe’s sovereign-debt rescue plan.

“We need to take a decision that will answer all questions in a good way,” Juncker said today in an interview in Zurich. “It’s desirable to include the IMF in any European solution to a maximum extent.”

Juncker will meet with other European leaders tomorrow in Brussels to reach agreement on bolstering the euro-area rescue fund, recapitalizing banks and determining the size of bondholder writedowns on Greek debt. A meeting of finance ministers planned for before the leaders’ summit was cancelled.

Juncker said there will be “parallel talks in Brussels with banks and we’ll need to see what’s the result of a voluntary participation” by private investors in the new Greek bailout package. “We’re currently debating 50 percent to 60 percent in Europe.”

Asked why the finance ministers’ meeting was cancelled, Juncker declined to comment.

To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net


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