2011-11-1：Greek 2 yr note yield 85%

The chaos in Europe led countries from China to Russia and Brazil to say they would hold off pledging money to Europe』s cause even as they signaled a potential willingness to eventually do so through the IMF. The Washington-based lender can attach strings to its aid.

The BRICS group of emerging economies, comprising Brazil, Russia, India, China and South Africa, will decide on a 「financial contribution」 to the euro region in 「coming weeks,」 the economic adviser to Russian President Dmitry Medvedev said. Brazilian President Dilma Rousseff said she 「has no plans or intentions to make any direct contribution」 to Europe and that China told her it would also rather use the IMF.

Options for bolstering the IMF』s $391 billion war chest when the time comes include opening a trust fund or not rolling back a 2009 cash increase. They also discussed increasing the amount of the fund』s Special Drawing Rights. The G-20 agreed to have the IMF create a new, six-month line of credit for countries 「with strong policies and fundamentals.」