Press Release No. 11/276

Press Release: Statement by IMF Managing Director Christine Lagarde on Europe

July 12, 2011

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following today:

“The IMF welcomes the statement by the Eurogroup reaffirming their commitment to safeguard financial stability in the euro area. We look forward to the prompt implementation of the important measures outlined in their statement.

“We also welcome the Ministers’ recognition of the need for a broader, more forward-looking policy response to assist Greece in its efforts to restore growth and competitiveness, and to bolster debt sustainability.  The IMF will continue to work closely with Greece and European partners to support these objectives.”