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It is expected details of the implementation of both models to be finalised by the euro area finance ministers (the Eurogroup) in November. Brussels is hoping that some of the BRICS countries (Brazil, Russia, India, China and South Africa), as well as large private investors will be interested in such a joint venture with the euro area. Today, French President Nicolas Sarkozy is holding talks on the issue with Chinese President Hu Jintao. An option for possible greater IMF participation is also being discussed but the euro leaders are concise on the topic: "In addition, further enhancement of the EFSF resources can be achieved by cooperating even more closely with the IMF. The Eurogroup, the Commission and the EFSF will work on all possible options", the statement reads.
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