Europe ‘must get its act together’, says IMF expert

EUROPE needs to “get its act together” and deal with its worsening sovereign debt crisis, the International Monetary Fund (IMF) said yesterday,warning of the risk of severe global repercussions.

The IMF said that both Europe’s debt woes and a painfully slow recovery in the US could undermine global growth, and it warned that without action those economies could tip back into recession.

The top economist at the global lender, however, singled out Europe as “a major source of worry” as he released the IMF’s latest World Economic Outlook report.