International Monetary Fund (IMF) chief Christine Lagarde called for a short-term crisis line for Emerging Markets in a speech at the Bank of France. The IMF chief cited that such a line could aid financial and growth strains. Emerging Markets have campaigned the IMF for an emergency-financing tool in recent years. The proposal would have to overcome many hurdles, the biggest of which would be staunch opposition by the IMF's largest shareholder, the U.S.
Read more at The Wall Street Journal.