Euro summit may miss deadline, collapse imminent

The Crisis in Europe is looking ever more likely to implode as European heads of Government and their bankers struggle to cobble together a deal that to put to be Greece's debt crisis but hurdles after hurdles keep coming up.

In the last days of the crisis, it now appears that they may miss the deadline and many analysts say this may lead to the collapse of the Euro, this chorus of doom is led by none other than former US Federal Reserve Chairman, Alan Greenspan.

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Greenspan: Why European Union doomed to fail - CNBC
Fears Euro summit could miss final deal - FT
US Stocks end sharply lower on Euro worries - CNBC 
European investors fret ahead of Key European meeting - FT

While European leaders are struggling to save the union, Italian leader Silvio Berlusconi's government may collapse under the weight of his many scandals.

Italian Government on brink of collapse - FT

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.