23 Feb '12, 12am

IMF challenged to toss more money into Greece: But while European Union nations have little choice but to pony u...

IMF challenged to toss more money into Greece: But while European Union nations have little choice but to pony u...

Greece's Prime Minister Lucas Papademos makes statements after a meeting with President Karolos Papoulias in Athens Feb 22, 2012. Greece must complete a swap of private holdings of its debt as part of a 130-billion-euro EU/IMF bailout package by around Mar 10 at the latest, caretaker Prime Minister Papademos said on Tuesday. -- PHOTO: REUTERS WASHINGTON (AFP) - After Europe's Herculean struggle to hammer out another bailout for Greece, the spotlight turns to the International Monetary Fund, which must decide how much it will contribute. Having already pledged 30 billion euros (S$50 billion) to a huge rescue effort that has not worked, the IMF's management must convince its doubtful shareholders to hand over billions more in hopes that Athens's finances will improve and the euro zone will stabilise. But while European Union nations have little choice but to pony up for the ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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