IMF: "Strong EU recovery but beware of the Pigs"

While waiting for the name of Dominique Strauss-Kahn's successor at the helm of the IMF to be known, its regent, John Lipsky commented on developments in the economic recovery in Europe. The picture outlined by the director, on the sidelines of the presentation of a special report on the Eurozone, is ambiguous: in the face of a Europe that has started to march behind the German locomotive again, the Periphery remains in recession and is struggling to free itself from the spiral of debts . “In the Eurozone the recovery continues broad and robust but the credit crisis in the peripheral countries risks reversing this favorable outlook and much remains to be done to make the monetary union more dynamic and stronger” explained Lipsky.