European Union debt crisis is in danger of spreading, warns IMF The European debt crisis could spread across the continent in a major blow to the single currency, leading economists warned last night.
Turmoil in Greece, Ireland and Portugal may engulf the wider eurozone despite the billions of pounds already spent in emergency aid, according to the International Monetary Fund.
It urged European leaders to fix the banking system and slash national deficits to restore confidence to the region.
In its latest report on Europe, it said economically weak countries could still drag their stronger neighbours down.
The IMF warned 'a shock to confidence could spread quickly throughout Europe'.
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Posted: 8:30:56 AM
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