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Russia not to invest in European Financial Stabilization Mechanism

Earlier, the EU had urged the G-20 countries to invest in the standing European Financial Stabilization Mechanism

Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

BRUSSELS, December 13 (Itar-Tass) — Russia’s ambassador to the European Union told a briefing on Monday that Russia wouldn’t invest money in the European Stabilization Fund.

“Russia doesn’t intend to invest money in the European Financial Stabilization Mechanism. At the same time, Russia is considering the possibility of committing additional funds to the IMF to expand its capabilities to render anti-crisis assistance,” Vladimir Chizhov said, commenting on the outcome of the EU summit held on December 8-9. During the summit, the EU member countries agreed to invest additional 200 billion Euros to the IMF.

Earlier, the European Union had urged the G-20 countries to invest in the standing European Financial Stabilization Mechanism, which begins operation in 2012.

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