IMF calls on Europe to get "act together" on debt

Europe needs to "get its act together" and deal with its worsening sovereign debt crisis, the International Monetary Fund said on Tuesday, warning of the risk of severe global repercussions.

The IMF said both Europe's debt woes and a painfully slow recovery in the United States could undermine global growth, and it warned that without action those economies could tip back into recession.

The top economist at the global lender, however, singled out Europe as "a major source of worry" as he released the IMF's latest World Economic Outlook report.

"There is a wide perception that policymakers are one step behind markets," IMF chief economist Olivier Blanchard told reporters. "Europe must get its act together," he added.

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- Posted: 2011-09-20 11:06:33

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