Tuesday, June 5, 2012

IMF says euro needs master plan, not deadline

(Reuters) - Euro zone leaders need a master plan and "collective determination" to rescue the common currency, but not necessarily a deadline, International Monetary Fund Managing Director Christine Lagarde said on Tuesday.

U.S. billionaire George Soros said on Saturday that the euro zone had three months to solve the debt crisis.

"I'm not a great fan of those target headlines that keep being missed anyway," Lagarde told Reuters in an interview on the sidelines of a conference in the Latvian capital.

While euro zone leaders should make decisions sooner rather than later, they need to agree on a comprehensive set of principles to enforce over time, she said.

"The master plan that everybody signs up to will be important because it will set a vision, it will set a collective determination. And that is lacking at the moment," she said. Read More