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Euro Zone Agreement Only Partial Solution: IMF
Posted By admin On December 11, 2011 @ 7:04 am In Money Watch | Comments Disabled
December 11, 2011
An agreement reached by European countries for deeper economic integration was a step in the right direction but not a complete solution for the euro zone’s debt crisis, International Monetary Fund (IMF) chief economist Olivier Blanchard said on Sunday.
“I’m actually more optimistic than I was a month ago, I think there has been progress,” Blanchard told the Globes business conference in Tel Aviv.
“What happened last week is important: it’s part of the solution, but it’s not the solution.”
He did not say what further steps were needed.
European leaders agreed in Brussels on Friday to draft a new treaty for deeper euro zone economic integration, although Britain, the region’s third-largest economy, refused to join the 17 euro states and nine other EU countries in the fiscal union.
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URLs in this post:
 Reuters: http://www.cnbc.com/id/45630118
 ‘End of euro road in 48 hours if no summit solution’: http://www.prisonplanet.com/end-of-euro-road-in-48-hours-if-no-summit-solution.html
 Hannan: “The Euro Is The Problem, Not The Solution”: http://www.prisonplanet.com/hannan-the-euro-is-the-problem-not-the-solution.html
 EU, without Britain, sees fiscal treaty by March: http://www.prisonplanet.com/eu-without-britain-sees-fiscal-treaty-by-march.html
 Central Banker Sees Structure of Euro Zone as ‘Unsustainable’: http://www.prisonplanet.com/central-banker-sees-structure-of-euro-zone-as-%e2%80%98unsustainable%e2%80%99.html
 Euro zone fiscal pact fails to restore confidence: http://www.prisonplanet.com/euro-zone-fiscal-pact-fails-to-restore-confidence.html
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