EU Leaders Turn to IMF Amid Financial Crisis - New York Times

International Monetary Fund to be doubled, to $500 billion, to help head off new problems in countries already hit hard by the global economic and financial crisis.

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And in a statement clearly aimed at hedge funds and other big private pools of capital, the leaders said that “all financing markets and participants” must be regulated in the future. They also vowed to press for sanctions against tax havens. The leaders met in an effort to hammer out a common European position ahead of the April meeting of the Group of 20, the group of industrialized economies and developing countries, in London. The meeting on Sunday also included leaders from Italy, Spain, the Netherlands and the Czech Republic, the current holder of the European Union ’s rotating presidency.

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