Friday, September 7th 2012 - 06:04 UTC

IMF showed strong support for ECB new framework in support of the Euro

Managing Director Christine Lagarde of the International Monetary Fund (IMF) showed strong support of the European Central Bank's new framework for intervention in the Euro zone debt crisis, deeming Thursday’s action 'an important step toward strengthening stability and growth.'

Managing Director said IMF stands ready to cooperate

“We see the ECB action as an important step toward strengthening stability and growth in the Euro Area” Lagarde said in a written statement for the press.

The IMF chief made the statements following decisions made by the ECB.

“We strongly welcome the ECB new framework, the Outright Monetary Transactions (OMT), for intervention in sovereign bond markets of countries accepting EFSF and ESM support for their macroeconomic adjustment programs and adhering to the associated structural and fiscal reform efforts.

“The IMF stands ready to cooperate within our frameworks,” Lagarde said.

Furthermore, the IMF chief underlined: “Decisive implementation of the new intervention program will help repair monetary transmission, and support countries’ efforts to secure finance at a reasonable cost while they undertake sustained macroeconomic adjustment.”
 

Published in: Economy, Politics, International.
Tags: Christine Lagarde, ECB, Eurozone debt crisis, IMF.

3 comments Feed

Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.

1 Harry Stamper (#) Sep 07th, 2012 - 07:34 am Report abuse
Good old Christine Legarde, a fellow socialist supporting the corrupt Euroland.
2 vestias (#) Sep 07th, 2012 - 10:07 am
Comment removed by the editor.
3 British_Kirchnerist (#) Sep 07th, 2012 - 04:51 pm Report abuse
#1 Eh? Unlike the last IMF boss, she comes from the French right, not the Socialist Party. Not that any IMF boss could really be a “socialist”!

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement