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IMF's Strauss-Kahn Says Quick Action Needed to Fix Crisis of Confidence |
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European Economy |
Written by CEP News |
Oct 10 08 15:52 GMT |
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(CEP News) - International Monetary Fund Managing Director Dominique Strauss-Kahn said on Friday that the European Central Bank took appropriate action this week by cutting interest rates 50bps to 3.75%.
Speaking in Washington, D.C. prior to the IMF meeting, Strauss-Khan noted that he has not seen signs of a currency crisis, adding that the euro currency offers stability to its member nations. He said markets are facing a crisis of confidence and that there is need to act quickly, adding that the U.S. fiscal stimulus package was "justified". By Steve Stecyk,
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, edited by Nancy Girgis,
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