IMF urges Europe to respond to crisis
The Associated Press, Paris | Sat, 10/04/2008 7:59 PM
The head of the International Monetary Fund says the global financial crisis is a "trial by fire" and that Europe must show it can respond like the United States.
Dominique Strauss-Kahn says that the financial situation is an unprecedented test for the countries that use Europe's common currency.
He says that his organization will lower its growth forecasts. He did not give specifics about which growth forecasts.
The IMF leader is urging Europe to shoulder its responsibilities "like the United States," which just passed a bailout for troubled financial institutions.
Strauss-Kahn spoke after meeting with French President Nicolas Sarkozy, who is hosting a mini-summit of European leaders later on Saturday to discuss the crisis.
