WASHINGTON, April 17 (Reuters) - Europe must commit to long-term reforms that strengthen its currency union, a senior U.S. Treasury Department official said on Tuesday, but she repeated the U.S. will not contribute more to the International Monetary Fund to contain the eurozone debt crisis.
Speaking ahead of a Group of 20 finance ministers' meeting on Friday, U.S. Treasury Under Secretary Lael Brainard said Europe will have to be flexible and ready to move toward greater fiscal integration in future.
"The path ahead obviously required them to address the longer-term contours of their union and ultimately address questions of fiscal integration," she said.
"The euro area will need to strike a careful balance to avoid a downward spiral of austerity and recession," Brainard said and it will take time to do so.
Read Full News
Resources for YOU:
No comments:
Post a Comment