IMF: European debt crisis might spread if banks aren't fixed

05/12/2011 | Guardian (London), The · Reuters

The International Monetary Fund warned that Europe's sovereign-debt crisis, which has been limited to a few peripheral countries, might spread if countries fail to resolve issues in their banking systems. "Financial linkages between countries with sovereign debt troubles and the rest of Europe could potentially pose more risk to the outlook," according to the IMF. "Restoring fiscal health, squarely addressing weak banks, and implementing structural reforms to restore competitiveness are key."

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Guardian (London), The · Reuters

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