Economy - Voice of America: IMF: Eurozone Crisis at 'Critical Stage'

Economy - Voice of America economy-and-business

IMF: Eurozone Crisis at 'Critical Stage' Jul 18th 2012, 16:52 The International Monetary Fund says the eurozone's debt crisis has reached a "critical stage," and that European leaders need to move quickly toward greater financial unity. The IMF's executive board said Wednesday that the 17-nation currency union needs to adopt a cross-border banking union, guaranteeing deposits and imposing central financial controls. The Washington-based lending agency said there are "severe downside risks" in the eurozone outlook, with ... Media files: F710F25D-B40B-48D6-BD27-8B3E58D81A44_cx0_cy8_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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