IMF: Debt Crisis May 'Overwhelm' Euro Zone |
|
June 20, 2011
The debt crisis in the euro zone's periphery is threatening to shatter the region's economic recovery and may cause a global financial disruption if not stopped, the International Monetary Fund warned Monday.
The debt crisis in the euro zone's periphery is threatening to shatter the region's economic recovery and may cause a global financial disruption if not stopped, the International Monetary Fund warned Monday. "A broadly sound recovery continues, but the sovereign crisis in the periphery threatens to overwhelm this favorable outlook, and much remains to be done to secure a dynamic and resilient monetary union," the IMF said, summarizing a regular report on the policies of the 17-country area. "Failure to undertake decisive action could rapidly spread the tensions to the core of the euro area and result in large global spillovers," it added.
Related Links
