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IMF's Lagarde Sees Euro zone Recovery In 2013

Capital Market/ 16:45 , Jan 14, 2013

The trading week opened on a positive note as IMF chief Christine Lagarde told on Monday that growth should return to the Eurozone in 2013. Her comments follow ECB president Mario Draghi's declarations made last week that the toughest moments for the area have already been overcome.

Christine Lagarde reassured investors by expressing her confidence that the Eurozone will start to recover from the crisis this year. She pointed to the progress in building the banking union and the successful implementation of austerity measures by the Member States as the most important factors leading to the improvement in EU economy.

As far as the situation in Greece in concerned, Christine Lagarde believes that even though the country will still witness difficulties in 2013, it might nevertheless attain better results than projected. The Greek government should thus “continue doing a massive effort on collection of revenue and collection of tax” to make this possible.

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