IMF-EU Prepare an Emergency Fund T EUR

The threat of the euro currency collapsed and the financial turmoil in Europe as the impact of the debt crisis of Greece responded immediately.

Among global policy makers agree on a rescue package and an emergency fund of EUR 750 billion, or $ 1 trillion (about USD 9100 trillion or USD 9.1 quadrillion).

Agreed that an emergency fund finance ministers and central bank led the European Union with the IMF (the International Monetary Fund) in Brussels yesterday (10 / 5). The agreement will also be decided after they held talks in marathon for more than 11 hours on the weekend (Sunday 9 / 5). Emergency fund that is the biggest in almost two years since the leaders of the G20 inject capital following the collapse of investment bank Lehman Brothers.

The IMF would contribute EUR 250 billion (about USD 2925 trillion or USD 2.925 quadrillion) or one-third of the total EUR 750 billion in emergency funding. Two-thirds of the other or EUR 500 billion (approximately USD 5850 billion or USD 5.85 quadrillion) would put up the European Union countries. Of that amount, approximately EUR 440 billion will be prepared by the Euro zone countries plus (in the shape of the warranty) and EUR 60 billion came from the European Commission.

Package''that the rescue funds to be strong evidence that we will maintain the euro currency and the risk of any bet,''firm Olli Rehn, the commissioner of economic and monetary affairs of the European Union, which involved lobbying the IMF to help solve the debt crisis that hit several countries in Europe.

Under the package, facility worth EUR 50 billion crisis (about Rp 585 trillion) was also prepared for the European countries are not included in the euro zone (do not use the euro currency). Those funds will be used extensively to help Romania, Hungary and Latvia.

The agreement to set up an emergency fund that is far more important step than the previous efforts by the 27 European Union member states or 16 states to curb the euro users and calm the markets. An emergency meeting of the European Union and the IMF are deliberately held after the debt crisis (credit crunch) in Greece cause turmoil in financial markets.

IMF managing director Dominique Strauss-Kahn praised the rescue packages launched by the European Union as a''major step forward''for the euro zone countries. ''I think we should wait a little bit longer. However, all support,''Strauss-Kahn said after meeting with bankers from the European central bank. ''(Rescue package) was not only affects the European Union, but it also ECB (European Union Central Bank, Red),''he continued.

''If some countries want EU aid and at the same time also came to the IMF to propose a broader step, we will be happy to help,''he said.

At the same time, the ECB also announced it will buy government bonds and private. Last year the ECB announced the purchase of EUR 60 billion of bonds.

The central bank swap facility is intended to assuage fears of scarcity of U.S. dollars. The decision was designed to ensure that there is enough liquidity. In addition, ensure the return of trust on the global financial system is suffering from the credit crisis in 2008.

EU and IMF moves get a positive response from market participants and investors. Financial markets soared in trading yesterday. Global stock market rose nearly 3 percent. Euro exchange rate rose again nearly 2 percent against the dollar.

Breakthrough''policy makers in the European Union market surprise. Investors and market participants and observers to be very optimistic that the package is able to overcome the turmoil of crisis,''said an analyst at ING. Fiscal problems''It has not been fundamentally resolved, but (package) is giving European countries a chance to breathe for several years,''he continued.

Euro currency, which last week slumped to its lowest level in 14 months (compared to the U.S. dollar), jumped back again. Euro exchange rate at the level of USD 1.2950 during the day although the range of USD 1.2915. Conversely, gold prices, which is regarded as a safe investment - fell 1.5 percent after a near record highs last weekend