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EU finance ministers to discuss new treaty, IMF loans in effort to boost crisis firewall

By The Associated Press  | December 19, 2011
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President of the European Central Bank Mario Draghi, left, and and Charles Wyplosz, director of the International Center of Money and Banking at the Graduate Institute in Geneva, arrive for a commemoration of late economist Tommaso Padoa Schioppa, in Rome, Friday, Dec. 16, 2011. The Italian government faces a confidence vote over a package of austerity measures while a transport strike to protest the cuts is causing havoc for commuters across the country. Premier Mario Monti is putting his package of new and higher taxes and pension reforms to a confidence vote in the lower Chamber of Deputies to speed up its passage. The vote, which is expected by early evening Friday, will likely clear the measures, paving the way for final approval in the Senate within days. (AP Photo/Andrew Medichini)
President of the European Central Bank Mario Draghi, left, and and Charles Wyplosz, director of the International Center of Money and Banking at the Graduate Institute in Geneva, arrive for a commemoration of late economist Tommaso Padoa Schioppa, in Rome, Friday, Dec. 16, 2011. The Italian government faces a confidence vote over a package of austerity measures while a transport strike to protest the cuts is causing havoc for commuters across the country. Premier Mario Monti is putting his package of new and higher taxes and pension reforms to a confidence vote in the lower Chamber of Deputies to speed up its passage. The vote, which is expected by early evening Friday, will likely clear the measures, paving the way for final approval in the Senate within days. (AP Photo/Andrew Medichini)

BRUSSELS - A spokesman for the Polish delegation to the European Union says that EU finance ministers will discuss how much money their countries will lend to the International Monetary Fund in a conference call Monday afternoon.

Kacper Chmielewski, whose country holds the revolving presidency of the EU, says the ministers will seek to decide how to split up the €200 billion ($261 billion) EU leaders promised to send to the IMF at a summit 10 days ago.

The money is meant to boost the eurozone's firewall against the escalating debt crisis.

There were some doubts whether the EU would reach the €200 billion after several non-eurozone countries balked at having to support the currency union.

The ministers will also discuss in their conference call a new treaty to tighten fiscal discipline.

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