IMF: “No Reason” for Greek Debt Crisis to Spread

International Monetary Fund Managing Director Dominique Strauss-Kahn said “there is no reason” to believe that other EU countries in addition to Greece will require external support to deal with mounting debt pressures. The countries most often suggested as being in need of emergency funding include the so-called PIGS nations including Portugal, Italy / Ireland, and Spain.

Strauss-Kahn’s comments came following a meeting between Greek Prime Minister George Papandreou and French president Nicolas Sarkozy. Sarkozy – following German Chancellor Angela Merkel’s lead last week – said that France stood “resolute” behind Greece, but did not offer specific monetary guarantees.

Source: BBC News

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