MF Denies Italian Bailout Package Talks
The International Monetary Fund has poured cold water on market hopes that it is preparing a substantial financial aid package for debt-laden Italy. Following media reports in Italy at the weekend, the IMF released a statement to deny suggestions talks had been held.
It had been reported by La Stampa that the world's lender of last resort would release a fund worth up to 600bn euros - potentially side-stepping the eurozone's own rescue mechanisms because of the huge sums involved.
Italy has been generally seen as 'too big to bail out' and the feasibility of such a deal may have been called into question by contributors to the IMF, including Britain.
"There are no discussions with the Italian authorities on a programme for IMF financing," said a spokesman. Read More
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