Syndicated News

IMF urges eurozone to take action on economic growth

The International Monetary Fund has called on eurozone countries to take coordinated action to revive economic growth or risk triggering renewed financial turbulence.

The strongly worded statement was released in Washington just hours before European Union finance ministers gather for talks in Brussels.

This will be their first meeting under the Lithuanian Presidency of the European Council.
It will also be the first full meeting attended by Croatia since it joined the EU on 1 July.
While eurozone finance ministers released more funds for Greece last night, the IMF issued a blunt statement saying concerted action is needed to restore health to the financial sector and deliver a banking union.

The Fund said economic revival was imperative and warned that a piecemeal approach from eurozone governments could undermine confidence and lead to renewed stress.

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