IMF's European department director resigns

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IMF's European department director resigns
from MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- The head of the International Monetary Fund's European department resigned due to personal reasons after only one year on the job, the IMF said Wednesday. Antonio Borges is stepping down immediately and will be replaced by Reza Moghadam who head the strategy, policy, and review department. Borges' departure comes at a time when Europe is struggling to contain the debt crisis from engulfing the whole region.