BRUSSELS – The euro will not “vanish” this year, but problems within the eurozone will slow down the global economy, with the International Monetary Fund set to lower its growth predictions in an upcoming report, its chief Christine Lagarde said Friday (6 January).

“Will 2012 be the end of the euro currency? My answer is I don’t think so,” she told reporters after meeting the South African finance minister.

“It’s a young currency, it’s a solid one as well. You have, within the zone, not in relation with the currency, serious pressures and issues concerning the sovereign debt, concerning the strength of the banking system, but the currency itself is not one that would vanish or disappear in 2012,” she added.

via EUobserver.com / Economic Affairs / IMF chief: End of euro unlikely in 2012, but crisis will drag on. BY VALENTINA POP

 

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