Tuesday, 17 January 2012 07:16
'A senior IMF executive has warned that the eurozone could fall into a “downward spiral” of collapsing confidence, stagnant growth, and fewer job, if it fails to get its governance in order.
The International Monetary Fund first Deputy Managing Director David Lipton also said that the European outlook is grim and risks for the global economy are high. "At the global level, the pace of economic activity is weakening, and the risks for Europe and the world are high," Lipton added on Monday.'
Read more: IMF Warns of Eurozone Downward Spiral
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