The International Monetary Fund (IMF) released its semi-annual Global Financial Stability Report earlier today. The report highlighted the ongoing debt crisis in Europe and housing issues in the US as the two most dangerous threats to global financial stability.
“The global financial system is still in a period of significant uncertainty and remains the Achilles’ heel of the economic recovery”, noted the report. “The recent turmoil in sovereign debt markets in Europe highlighted increased vulnerabilities of bank and sovereign balance sheets arising from the crisis.”
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