Economics

Europe Faces Firewall Pressure as G-20 Debates IMF Role

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U.S., Chinese and Japanese officials say they will press euro-area countries to do more to merit outside help when the world’s largest economies gather tomorrow for a meeting dominated by Europe’s sovereign-debt woes.

European officials will push fellow Group of 20 nations to commit fresh cash to the International Monetary Fund to help defuse the region’s fiscal crisis, days after backing a second bailout for Greece. The Obama administration says Europe must first strengthen its firewall to prevent debts of countries such as Italy and Spain from becoming unsustainable.