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IMF has enough resources to fight euro area crisis – German finance minister

October 15, 2011, 2:04 UTC+3
The German finance minister expressed confidence that "the European countries should assume the responsibility for most of the action to combat the crisis"
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PARIS, October 15 (Itar-Tass) —— The International Monetary Fund (IMF) has sufficient means to deal with the crisis in the euro area, German Finance Minister Wolfgang Schaeuble said on Friday. He is in the French capital for a meeting with G20 counterparts.

However, the German finance minister expressed confidence that "the European countries should assume the responsibility for most of the action to combat the crisis."

A number of representatives of the G20 member-states find it necessary to replenish the emergency cash reserves of the IMF in order to improve the effectiveness of its initiatives to combat the crisis. Germany adheres the completely opposite view. As Schaeuble said, the leaders of the euro area "follow the right path, advocating the adoption of clear measures that will prevent the spread of the crisis."

"We are pleased that we get help and support from the IMF, but crucial, in this case, is exactly the fact that we take responsibility and direct efforts towards combating the problems in Europe," the German Finance Minister said.

 

 

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