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No provision to quit euro without leaving EU: Commission

The European Commission on Thursday said that there was no provision under EU treaties to exit the euro without also leaving the European Union. Commission spokeswoman Karolina Kottova refused all comment on the prospects of Greece quitting the euro. But when asked if under the bloc’s rule-book it was impossible…

IMF adviser: The global economy could collapse ‘in two to three weeks’

In an interview on BBC yesterday, International Monetary Fund (IMF) adviser Robert Shapiro said something quite alarming: without a plan to save the Euro, the global economy will collapse “in two to three weeks.” Speaking about European leaders, Shapiro said: “If they can not address [the financial crisis] in a…

IMF hit by sophisticated cyberattack: report

WASHINGTON (AFP) – The International Monetary Fund (IMF) was the target of a sophisticated cyberattack earlier this year, the New York Times reported Saturday, quoting senior officials at the world lender. The global financial institution — which has been spearheading the response to the eurozone crisis in recent months —…

IMF chief resigns, vows to prove innocence

NEW YORK (AFP) – Dominique Strauss-Kahn resigned Thursday as head of the International Monetary Fund (IMF), saying he did so with great regret but must focus entirely on clearing his name of sexual assault charges. The move came after escalating pressure on the IMF to chart a course through the…

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