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Guido Mantega wants eurozone nations to put forward more of their own funds |
Brazil has
said that developing nations would be happy to provide more money to ease the
eurozone's debt crisis, in return for more power within the International
Monetary Fund (IMF).
The
comments were made by Brazilian Finance Minister Guido Mantega as he met with
his opposite numbers at a G20 meeting in Mexico.
He also
called on eurozone countries to contribute more of their own funds.
This
position was echoed by UK Chancellor George Osborne.
Mr Mantega
said: "Emerging countries will only help under two conditions; first that
they strengthen their firewall and second for the IMF [voting rights] reform be
implemented.
"I see
most countries sharing a similar opinion that the Europeans have to strengthen
their firewall."
Mr Mantega,
and other G20 finance ministers, want eurozone nations to put more funds into
the European Stability Mechanism, the fund set up to bail out nations
struggling with their sovereign debt.
'Colour of
money'
German
Finance Minister Wolfgang Schaeuble said eurozone nations would look next month
at increasing the size of the ESM.
Mr Osborne,
speaking to Sky News, said the UK was waiting for this to happen.
"We
are prepared to consider [increasing] IMF resources but only once we see colour
of eurozone money and we have not seen this," he said.
"While
at this G20 conference there are a lot of things to discuss, I don't think
you're going to see any extra resources committed here because eurozone
countries have not committed additional resources themselves, and I think that
quid pro quo will be clearly established here in Mexico City."
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