Leading French lady and President of the IMF, Christine Lagarde, has been on manoeuvres this week trying to bounce the IMF into supporting the Eurozone. A new £300 billion of funding to help 'satbilise' countries across the World. Clearly this is aimed at her home Country and the Euro.
Sadly though, the US Congress would have to vote on a huge chunk of this extra commitment; as would the UK Parliament - chances of success of agreeing to a French led bail-out - zero.
It is desperate to see this being floated as an idea as the Countries of Europe continue to avoid the obvious route of breaking up the eurozone and using devaluation as away out of the debt crisis. At the rate we are going the debts are going to take 100 years to pay-off which is not practicable at all.
Even if the US does bail-out Europe, it will be through the Federal Reserve lending to European banks.
No end to the crisis in sight, which means big risk of further dislocations in the markets and in the World economy.