Thursday, December 9, 2010

IMF Chief Chides EU Over Work on Crisis

Wall Street Journal
December 8, 2010

The head of the International Monetary Fund on Tuesday urged European countries to find a comprehensive solution to the region's debt crisis, faulting their approach to date as ad hoc and too slow.

Dominique Strauss-Kahn spoke as European finance ministers met in Brussels to debate enlarging the temporary fund for euro-zone members in need of emergency loans, as well as how to set up a permanent funding vehicle.

But those talks so far have been marred by sharp disagreements among various euro-zone governments over the details of future bailouts.

"My view is very simple—the euro zone must find a comprehensive solution to this problem," the IMF managing director said. "It is not a good approach that for every country we find a separate solution."

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