23.10.2008 - Thailand proposes asia pool $350 billion for crisis
From Bloomberg.com: Thailand will propose that Asian countries pool $350 billion, or 10 percent of their foreign- exchange reserves, to help protect financial systems from a looming global recession. Under the plan the Association of Southeast Asian Nations and Japan, China and South Korea would pool $150 billion to be tapped in case they need to protect their currencies and another $200 billion would be set aside to buy equities, bonds and fund infrastructure projects, Olarn Chaipravat, Thailand's deputy prime minister, said in an interview in Bangkok today..... Full Article: Source