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IMF warns of half-hearted budget cuts

06-08-2010 11:47 BJT Special Report: Europe's Debt Crisis |

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The International monetary Fund says delayed or half-hearted budget cuts by vulnerable eurozone countries could trigger a further loss of market confidence in the region, as well as a new slide in the 16-nation currency.

In Monday's report on the eurozone economy, the IMF also called for indebted nations facing high borrowing costs to push through austerity programs to curb mounting debt. Meanwhile, the euro has slumped to a new four-year low as investors fear European governments might not be able to repay loans while economic growth remains weak.

Editor:Zhang Jingya |Source:

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