ECONOMY

IIF calls on Europe to boost crisis fund

The Institute of International Finance urged European policymakers to boost the size of their crisis fund, calling recent decisions on the amount available to fight the region?s debt turmoil ?disappointing.?

Increasing the size and flexibility of crisis-fighting tools is ?essential for reassuring markets that the euro area has the resources and commitment to assist member countries facing contagion risks and difficulties in accessing capital markets,? IIF Managing Director Charles Dallara (photo) wrote in a letter prepared for next week?s meetings of the International Monetary Fund and of the World Bank.

[Bloomberg]