IMF boss slams Eurozone’s response to the debt crisis

DOMINIC Strauss-Kahn, the head of the International Monetary Fund (IMF), has launched a thinly-veiled attack on the Eurozone’s handling of the sovereign debt crisis.

“The piecemeal approach, one country after another, is not a good one,” he said, as he called for a “more comprehensive solution to the problem”.

Strauss-Kahn’s comments, which came after a meeting of EU finance ministers, are likely to put pressure on Germany, which is resisting calls for a larger Eurozone rescue fund.

It is also opposing an Italy-Luxembourg plan to issue pan-Eurozone bonds that would lower borrowing costs for struggling member states.

Meanwhile, the EU promised a “more rigorous” round of European bank stress tests to be conducted in February next year.