BEIJING, Dec. 17 (Xinhuanet) -- The head of the IMF has sketched a dim outlook for the global economy, and said all countries must work together to resolve Europe's escalating debt crisis.
Christine Lagarde says Europe’s problems will not be solved by Europe alone, and needs the efforts of all countries. She says, if the issues are not dealt with decisively, the global economy could confront the same threats that pushed the world into the Great Depression of the 1930s. She also cautioned financial markets to allow time for individual nations to work through the political process to arrive at a solution.
Last week, a number of European countries said their central banks would make loans to the IMF to bolster the global lender’s resources. After the announcement, the US government said it would not provide more support to the IMF, because it said the agency had sufficient resources.
(Source: cntv.cn)
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