European Union finance ministers will support appeals to double the reserves of the International Monetary Fund when they meet Tuesday,
reported. The EU ministers are expected to endorse a paper, which urges the bloc to increase the authority of IMF while doubling its funding. "It is essential that the IMF has appropriate financial means to assist countries particularly affected by the current crisis. EU member states support a doubling of IMF resources and are ready to contribute to a temporary increase, if needed," according to the draft paper.