World banks consider €15bn Europe lifeboat

International lenders will meet this weekend to discuss an emergency lifeboat worth up to €15bn, in a bid to stop the Greek crisis spreading to Eastern Europe.

Heads of the World Bank, the International Monetary Fund, the European Bank for Reconstruction and Development and the European Investment Bank are due to meet in Tokyo amid fears about the impact of the crisis on countries including Romania, Albania, Slovenia, Serbia and Macedonia, The Times reports. The lenders will discuss the details of a south east Europe recovery plan, with the aiming of co-ordinating debt and equity for banks and other companies, as well as helping struggling governments. Erik Berglof, chief economist of the EBRD, told The Times: "The south east Europe recov...