IMF doesn't have enough to bail out Europe, collapse possible

IMF chief Christine Lagarde said Monday the fund had adequate resources to deal with the debt crisis affecting the world economy.

"I believe that today the IMF has adequate resources," Lagarde told Europe 1 radio after some member nations of the G20 meeting in Paris on Friday and Saturday called for increased resources for the world body.

The United States said an increase was unnecessary.

Asked what she considered an adequate level of resources for the International Monetary Fund, Lagarde declined to give figures.

Rich and emerging G20 economies meeting in Paris committed to ensuring that the IMF has adequate resources to meet its responsibilities and said they looked forward to debate the issue during the G20 summit in Cannes, France, November 3 and 4.

EU collapse more real as Germans refuse more money

German Finance Minister Wolfgang Schaeuble ruled out Germany contributing any more money to the beefed-up EU bail-out fund than the 211 billion euros approved by parliament, in an interview published Saturday.

"The European Financial Stability Facility has a ceiling of 440 billion euros ($590 billion), 211 billion of which is down to Germany. And that is it. Finished," he told the magazine Super-Illu.

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