Europe still needs stimulus-IMF Europe chief Belka
Tuesday January 19, 2010 04:09:09 AM GMT
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ECONOMY-EUROPE/IMF
LONDON, Jan 18 (Reuters) - Fiscal and monetary policies designed to push Europe out of financial and economic crisis need to continue because the economy is still fragile, the IMF's Europe chief said in a blog post.
Marek Belka, director of the IMF's European department and a former prime minister of Poland, writes that Europe's crisis has been very deep, and is likely to require economic restructuring and widespread balance sheet repairs that take time.
"We are no longer at the edge of the abyss that loomed in early 2009, with all but a handful of Europe's economies now pulling out of recession. But it is less clear that we have reached safe ground," he wrote on http://blog-imfdirect.imf.org/
"It is important for fiscal and monetary policies to continue to support the recovery. While a rebound is under way, the recovery is still fragile, subject to important downside risks, and uneven across the continent," he wrote. (Editing by Andy Bruce)
Tuesday January 19, 2010 04:09:09 AM GMT
Reuters News Bookmark and Share
ECONOMY-EUROPE/IMF
LONDON, Jan 18 (Reuters) - Fiscal and monetary policies designed to push Europe out of financial and economic crisis need to continue because the economy is still fragile, the IMF's Europe chief said in a blog post.
Marek Belka, director of the IMF's European department and a former prime minister of Poland, writes that Europe's crisis has been very deep, and is likely to require economic restructuring and widespread balance sheet repairs that take time.
"We are no longer at the edge of the abyss that loomed in early 2009, with all but a handful of Europe's economies now pulling out of recession. But it is less clear that we have reached safe ground," he wrote on http://blog-imfdirect.imf.org/
"It is important for fiscal and monetary policies to continue to support the recovery. While a rebound is under way, the recovery is still fragile, subject to important downside risks, and uneven across the continent," he wrote. (Editing by Andy Bruce)