Tuesday, January 24, 2012

Lagarde calls for bigger eurozone firewall

Lagarde calls for bigger eurozone firewall
By Alan Beattie in Washington

The head of the International Monetary Fund said on Monday the eurozone needed a bigger firewall to prevent Italy and Spain sliding towards default, underlining Europe’s responsibility in solving its own sovereign debt crisis.

In a speech in Berlin, Christine Lagarde, IMF managing director, said that without a larger bail-out fund, fundamentally solvent countries like Italy and Spain could be forced into a financing crisis.


No comments: