WHEN: TODAY, WEDNESDAY, JANUARY 18, 2012
WHERE: CNBC’S “FAST MONEY HALFTIME REPORT”
Following is the unofficial transcript of BREAKING NEWS from CNBC’s Steve Liesman.
All references must be sourced to CNBC.
STEVE LIESMAN: I WANT TO BRING YOU AN UPDATE ON THE STORY WE BROUGHT YOU EARLIER THIS MORNING THAT THE IMF IS LOOKING FOR 600 BILLION DOLLARS WE HAVE TALKED TO A TREASURY SPOKESPERSON WHO TELLS CNBC THE U.S. HAS NO INTENTION OF PROVIDING ADDITIONAL MONEY TO THE IMF THE IMF IS GOING TO HAVE TO LOOK ELSEWHERE THAN UNCLE SAM THE TREASURY SAYING EUROPE HAS THE CAPACITY TO SOLVE ITS OWN PROBLEMS THE IMF CAN NOT SUBSTITUTE FOR A ROBUST EURO AREA FIREWALL THE SPOKESPERSON SAID NOW WEVE ALSO LEARNED THE IMF HAS ASKED EUROPE TO RAISE ITS OWN FIREWALL TO ONE TRILLION DOLLARS THAT’S THE NEWS THAT WE’VE BEEN TOLD IT WAS THAT EXECUTIVE BOARD MEETING YESTERDAY AND IT WAS NOT REPORTED THAT REALLY ONE OF THE REQUESTS OUT THERE IN ADDITION TO THE IMF LOOKING FOR MORE MONEY THEY WANT EUROPE TO RAISE A FIREWALL ON ITS OWN OF A TRILLION DOLLARS SO THAT’S THE STORY THIS IS CONTINUING SCOTT A POSITION THAT WAS STAKED OUT BY THE TREASURY SECRETARY BACK WHEN THEY WERE MEETING IN FRANCE LAST FALL THAT THE UNITED STATES FELT LIKE EUROPE SHOULD SOLVE ITS OWN PROBLEMS AND NOT GO TO THE IMF UNTIL ITS PONIED UP A LOT OF MONEY THE U.S. IS NOT OBJECTING TO THE IMF RAISING MORE MONEY BUT IT WANTS TO SEE EUROPE STEP FORWARD.
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