3 August 2012, 12:48

European crisis may go global - IMF

European crisis may go global - IMF

The European debt crisis may have a very negative knock-on effect on the global economy. In a pertinent report

The European debt crisis may have a very negative knock-on effect on the global economy.

In a pertinent report released on Friday a team of IMF experts warns that even though non-European states have not yet felt the pinch, any further economic upheavals in Europe could send the European GDP 5 percent down which, in view of sluggish growth, could undermine production.

The authors see the creation of a banking union, gradual spending cuts and a string of financial stimulants as the effective means of dealing with the hard-hitting crisis.

Interfax

 

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