IMF: Euro crisis has put Global economy in 'danger'

The IMF has said the Global economy is in a "danger zone" as a result of the euro crisis.

It has also lowered world growth outlook to 3.3% from a previous prediction of 4% and predicts the Eurozone is set for a "mild recession" in 2012, with growth expected to shrink by 0.5%.

However, IMF spokesman Olivier Blanchard has said it is not too late to put in place the right policies to fix the problem, but measures are urgently needed.