IMF head: 'Help needed' for credit crunch

[Eugene]

Source: BBC News

Page last updated at 06:35 GMT, Monday, 7 April 2008 07:35 UK

'Help needed' for credit crunch

Tackling the credit crunch requires government intervention
at a global level, the head of the International Monetary
Fund (IMF) has said.

The need for public intervention was "becoming more evident",
Dominique Strauss-Kahn told the Financial Times.

Authorities have pumped liquidity into markets but, besides
bailing out banks such as Northern Rock, have not intervened
in financial systems.

The securities market and housing sector could get more
support, he said.

This, along with more intervention in the banking sector,
would offer a "third line of defence", Mr Strauss-Kahn told
the newspaper.

-snip-

Read more: http://news.bbc.co.uk/2/hi/business/7333948.stm