House Passes Budget to Ease $63 Billion in U.S. Spending Cuts
Euro Governments Consider Special IMF Fund, Welt Says
(Corrects newspaper attribution in second paragraph)
The governments of the 17-nation euro zone are considering giving hundreds of billions of euros to the International Monetary Fund in order to end the sovereign-debt crisis, Die Welt reported, citing sources close to the negotiations.
“Triple-digit billions” will be paid into the fund which would then finance rescue programs for some countries, according to Welt. Other central banks such as the U.S. Federal Reserve are also said to be willing to contribute and Secretary of the Treasury Tim Geithner will fly to Europe this week to meet with politicians and bankers, Welt said.
To contact the editor responsible for this story: Chad Thomas at firstname.lastname@example.org.