A European proposal to channel central bank loans through the IMF may deliver as much as 200 billion euros ($268 billion), two people familiar with the negotiations said.
At a Nov. 29 meeting attended by Draghi, euro-area finance ministers gave the go-ahead for work on the plan, said the people, who declined to be named because the talks are at an early stage. The need for a new crisis-containment tool emerged as an effort to boost the 440 billion-euro rescue fund to 1 trillion euros fell short.