IMF head: some European economies not far from edge of cliff

NEW DELHI (BestGrowthStock) – International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn said on Thursday that some European economies were “not far from the edge of the cliff” and must deal with fiscal consolidation.

“Some were at the edge of the cliff — that’s Greece, that’s Ireland, fine. Others are not far from the edge of the cliff but nevertheless have to maintain and go back to a better fiscal situation. So the whole Eurozone has now to deal with medium-term fiscal consolidation,” he said in the Indian capital.

(Reporting by Abhijit Neogy; editing by Tony Munroe)

IMF head: some European economies not far from edge of cliff