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IMF tells Europe to take action now

The International Monetary Fund told Europe to take action now to contain the eurozone crisis and prevent spillover from the weakest economies from damaging the entire region and the global economy.

business Updated: Jul 19, 2011 21:15 IST

The International Monetary Fund told Europe to take action now to contain the eurozone crisis and prevent spillover from the weakest economies from damaging the entire region and the global economy.

The Fund warned that the results of any policy paths would be unpredictable and also said the eurozone needed more private money to support its most fragile members and its still-frail banks.