IMF urges Italy to enforce spending cuts

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Wed Jul-13-11 12:20 PM
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IMF urges Italy to enforce spending cuts

http://www.bbc.co.uk/news/business-14133548

The International Monetary Fund (IMF) has asked Italy to ensure "decisive implementation" of spending cuts to reduce the country's debt.

Its comments come as concerns continue that Italy may be the next country to be hit by the eurozone's debt crisis.

The IMF also said that Greece needs an additional 71bn euros ($100bn; £62.5bn) in EU aid and 33bn euros from private creditors.

And it pushed back Greece's return to the capital markets to 2014.

quelle shock & awe...:eyes:

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