IMF chief repeats call for strong Europe firewall

[admin]

IMF chief repeats call for strong Europe firewall
from MarketWatch.com - MarketPulse
DAVOS, Switzerland (MarketWatch) -- The chief of the International Monetary Fund, Christine Lagarde, reiterated her call on Saturday for a "decent firewall" in the euro zone to stem the sovereign debt crisis. "It's critical that euro-zone members develop a clear, simple firewall [...] to provide trust," Lagarde said at a panel discussion at the World Economic Forum's annual meeting in Davos. Lagarde is among several high-level officials who have suggested in recent days that a bigger firewall is needed in Europe, including the British prime minister and the U.S. Treasury secretary. "No one is immune in the current situation," Lagarde warned. "It's not just a euro-zone crisis." The fund is currently aiming to raise up to $500 billion in additional lending resources, so it is better equipped to respond to the euro crisis and deal with other emergencies.