Originally published on Sat April 21, 2012 9:46 am
International Monetary Fund officials and members of the G-20 nations announced Friday that member countries have pledged $430 billion to add to the Fund's crisis-fighting arsenal.
The Fund's managing director Christine Lagarde came into the annual World Bank-IMF spring meetings in Washington, D.C., with a goal of raising $400 billion from member states. She was clearly happy and relieved as she announced a number larger than that.
The eurozone crisis has been under way for three years and has led to sharp welfare cutbacks and a credit crunch throughout the continent.
But one of the most serious effects of the financial crisis has been an alarming spike in suicides in debt-burdened Greece, Ireland and Italy.
Last Wednesday, about a 1,000 people gathered in central Rome for a candle-lit vigil to honor Italy's economic victims. Statics show that from 2009 and 2010, some 400 small-business owners took their lives.
There have already been 23 crisis-related suicides since January.
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