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Europe Live Saturday 25th May 2013

The euro zone has to take firm measures against the crisis

23rd July 2012

The IMF published a report on 19th July 2012 in which it offers its ideas to European leaders on how to settle the crisis. It notably advises on the introduction of banking union and the development of budgetary union in order to protect the monetary union's viability. Finally, although monetary policy should underpin demand it recommends the Member States to make structural reform to increase long term growth. The IMF also decided on 18th June to extend its field of surveillance of the world economy. In order to provide protection against the effects of "contagion" it absolutely has to assess whether the policies that are implemented in a given country do not influence the international system negatively.

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