WASHINGTON (MMNI) – The following statement was issued by the
International Monetary Fund Sunday night:
IMF Welcomes European Actions to Stabilize Euro Area
Mr. Dominique Strauss-Kahn, Managing Director of the International
Monetary Fund (IMF), issued the following statement today on the
European Union’s announcement of sweeping measures to stabilize its
economic and financial system:
“I strongly welcome the far-reaching steps unveiled today by the
European Union and the European Central Bank (ECB) to restore confidence
and financial stability in the euro area. These are strong measures that
will help to secure global economic and financial stability, and
preserve the global economic recovery. Implementation of actions to put
public finances on a sustainable footing is key to restoring economic
health in Europe.
“The IMF will play its part, in the interests of the international
community, in addressing the current challenges. In particular, we stand
ready to support our European members’ individual adjustment and
recovery programs through the design and monitoring of economic measures
as well as through financial assistance, when requested, in conjunction
with the new European Stabilization Mechanism (ESM). Our contribution
will be on a country-by-country basis, through the whole range of
instruments we already have at our disposal. We expect our financial
assistance to be broadly in the proportion of our recent European
arrangements.”
** Market News International Washington Bureau: 202-371-2121 **
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