Lit­tle time.

Kathimerini English - - Business & Finance -

The In­ter­na­tional Mon­e­tary Fund said yes­ter­day that the Euro­pean Union has lit­tle time left to re­solve sov­er­eign debt prob­lems, amid ris­ing con­cerns among in­vestors and the pub­lic. “Pol­i­cy­mak­ers must act now to make the fi­nan­cial sys­tem more ro­bust,” the IMF said in a re­port is­sued in Sao Paulo. “The cur­rent win­dow of op­por­tu­nity to pre­pare the fi­nan­cial and eco­nomic sys­tem against po­ten­tial sys­temic shocks, im­por­tantly by pro­vid­ing clar­ity on euro area-wide so­lu­tions to strains in the pe­riph­ery, could close un­ex­pect­edly.” The Fund noted that con­cerns about debt sus­tain­abil­ity and sup­port for ad­just­ment ef­forts in the eu­ro­zone pe­riph­ery had in­ten­si­fied, in an up­date of its April Global Fi­nan­cial Sta­bil­ity Re­port. “Credit de­fault swap spreads have risen to new highs in Greece amid con­cerns over the de­gree of po­lit­i­cal re­solve that will be needed to im­ple­ment ad­just­ment and se­cure needed fund­ing.” (AFP)

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.