http://www.economist.com/blogs/freeexchange/2012/04/firewalls?fsrc=nlw|newe|4-23-2012|1479315|36864786|
GIVEN the dismal weather reports from much of the world economy, and most notably the euro zone, the International Monetary Fund's stock of provisions has been looking a little thin. Yet it has not been easy to imagine a straightforward way to increase the funds available to the IMF. The rich countries that are typically the source of most of the Fund's resources are either racked by crisis, nervous about becoming racked by crisis at some not-too-distant future date, or in the midst of election season at a time when bail-out cash for profligate foreigners is not a very popular campaign pledge. Those that are a bit more fiscally hale, mostly emerging markets, are both much poorer than the euro countries at the heart of current crises (and therefore rightly miffed at the expectation that they should be the ones to come to the rescue) and unwilling to pour money into an important international organisation at which their voices remain relatively small.
GIVEN the dismal weather reports from much of the world economy, and most notably the euro zone, the International Monetary Fund's stock of provisions has been looking a little thin. Yet it has not been easy to imagine a straightforward way to increase the funds available to the IMF. The rich countries that are typically the source of most of the Fund's resources are either racked by crisis, nervous about becoming racked by crisis at some not-too-distant future date, or in the midst of election season at a time when bail-out cash for profligate foreigners is not a very popular campaign pledge. Those that are a bit more fiscally hale, mostly emerging markets, are both much poorer than the euro countries at the heart of current crises (and therefore rightly miffed at the expectation that they should be the ones to come to the rescue) and unwilling to pour money into an important international organisation at which their voices remain relatively small.
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