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Reply #6: europe: Eurozone crisis: finance ministers turn to the IMF - live [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 07:33 AM
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6. europe: Eurozone crisis: finance ministers turn to the IMF - live

12.03pm We're getting some details of a briefing from a briefing given by Herman Van Rompey, EC president, to the EPP Group (the largest political group in the European Parliament).

He told them that interventions by the Europen Central Bank "can't be a sleeping pill for government", and can only take place if there are sufficient guarantees of "fiscal discipline" within Europe. Van Rompey also told them that:

On the short term, we need to stabilize the eurozone. The leveraging of the EFSF is key for that.

11.46am: While we wait for developments in Brussels....the latest economic data from Europe gives little reason to be optimistic.

The unemployment rate across the EU rose to 9.8% in October from 9.7% the previous month, while within the eurozone the jobless rate also increased, to 10.3%.
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