EU ‘needs to implement solution to debt crisis’

THE EU needs to rapidly implement a solution to the eurozone debt crisis to stop the contagious effects on countries like Ireland, the IMF has warned.

Ireland is slowly returning to growth and meeting its commitments under the bailout programme but is being negatively viewed by the markets because of the threat of contagion, the IMF’s European deputy director, Ajai Chopra, said yesterday.

Mr Chopra was speaking at a press conference in Dublin held by the troika of EU, ECB and IMF to announce the results of their latest quarterly review of Ireland’s adherence to its bailout targets.