IMF’s Lagarde: ‘Hopeful That Others Will Also Do Their Part

WASHINGTON (MNI) – The following was issued Friday morning by the
International Monetary Fund:

Ms. Christine Lagarde, Managing Director of the International
Monetary Fund (IMF), issued the following statement in Brussels:

“As indicated by Presidents Van Rompuy and Barroso in their
briefing earlier today, the decisions taken today by European Leaders at
their summit meeting are an important contribution to helping address
the crisis facing the euro zone and strengthening the global economic
recovery.

I welcome in particular the progress made in three critical areas:

First, the agreement reached to enhance fiscal discipline and
strengthen economic policy coordination in the euro zone.

Second, the decision to accelerate the entry into force of the
European Stability Mechanism (ESM) treaty, which will help bolster the
firewall against financial contagion.

Third, the commitment by EU member states to provide additional
resources to the IMF of up to 200 billion euros (about 270 billion US
dollar). These resources will enhance the IMF’s capacity to fulfill its
systemic responsibilities in support of its global membership–which is
especially important given the ongoing economic slowdown and financial
market tensions.

I appreciate this demonstration of leadership from Europe, and I am
hopeful that others will also do their part.”

** Market News International Washington Bureau: 202-371-2121 **

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