IMF and the Eurozone
Dominique Strauss-Khan, The International Monetary Fund (IMF) MD, has appealed to European leaders for a more encompassing and comprehensive solution to the European debt crisis. He has labelled previous attempts as bitty and not fit for purpose.
The FT has stated that whilst Mr Strauss-Khan is not concerned about the Euro he is concerned about calming concerns from investors and reinforcing finances.
Following in the wake of Greece and Ireland, Spain and Portugal are now deemed to be the most at risk. Both Greece and Ireland have been recipients of large bail outs but the rest of the EU has been reliant on bond purchase from the Central European Bank in order to stabilise Spain and Portugal.
Only yesterday, Ireland introduced its own plan to make cuts. Slim Parliamentary approval paved the way to implement the first stages of cuts to save an initial £5 BN.
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