IMF’s Strauss-Kahn Says Europe Still in ‘Troubling’ Situation

Europe, where a debt crisis prompted bailouts of Greece and Ireland this year, remains in a “troubling” situation, the head of the International Monetary Fund said.

The effects of the global financial turmoil “are far from over,” IMF Managing Director Dominique Strauss-Kahn said today in Geneva, according to a copy of his prepared remarks. “The situation in Europe remains troubling, and the future is more uncertain than ever.”

The Washington-based IMF is set to take part in Ireland’s 85-billion euro ($113 billion) rescue package agreed to on Nov. 28, with the European Union and other European countries, seven months after giving Greece a 110-billion euro multilateral package. The European Central Bank has stepped up buying bonds from the region’s most-indebted countries to prevent the market rout from spreading.

Read Full Article from Bloomberg

- Posted: 2010-12-08 10:21:22

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