The debt crisis in the ‘region’ of the eurozone threatens to “overwhelm” the economic recovery in the region and could cause global economic disruption if not stopped, warned the International Monetary Fund. “A broad strong recovery continues, but the sovereign debt crisis in the region threatens squandered this favorable outlook and many are what must be done to ensure a dynamic and robust monetary union,” the IMF said, summing up a regular report on the political area of 17 States. “A failure to take decisive decisions can spread rapidly in the turbulent core of the Eurozone and lead to greater global expansion,” he added.
This news post was written by Chris on June 20, 2011