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Economy
In reply to the discussion: STOCK MARKET WATCH -- Thursday, 19 April 2012 [View all]Demeter
(85,373 posts)4. IMF: Global economic recovery fragile and risk of relapse high
http://www.guardian.co.uk/business/2012/apr/17/global-economic-recovery-fragile-imf
Disorderly default and exit by eurozone member could spark market panic and cause bigger crisis than after Lehman collapse, IMF says in World Economic Outlook report
SO, THE BREAKUP OF THE EUROZONE IS STILL ON THE TABLE...
...Asked about the risks that a country would leave the euro, Blanchard said: "We are doing everything possible so that this does not happen."
The IMF's chief economist said membership of the single currency made it harder for countries to become more competitive, but added: "For the moment there is no plan B. The costs of one country leaving the euro unilaterally would be very big and would lead to a very large drop in output."
Blanchard said there would be contagion risks if one country departed from the single currency, and said this would be one of the circumstances in which the firewalls would be needed. There would be knock-on pressure on the sovereign bonds of other nations, he said....
Disorderly default and exit by eurozone member could spark market panic and cause bigger crisis than after Lehman collapse, IMF says in World Economic Outlook report
SO, THE BREAKUP OF THE EUROZONE IS STILL ON THE TABLE...
...Asked about the risks that a country would leave the euro, Blanchard said: "We are doing everything possible so that this does not happen."
The IMF's chief economist said membership of the single currency made it harder for countries to become more competitive, but added: "For the moment there is no plan B. The costs of one country leaving the euro unilaterally would be very big and would lead to a very large drop in output."
Blanchard said there would be contagion risks if one country departed from the single currency, and said this would be one of the circumstances in which the firewalls would be needed. There would be knock-on pressure on the sovereign bonds of other nations, he said....
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