IMF chief: Less than three months to save the euro

The International Monetary Fund Managing Director Christine Lagarde has told CNN that action to save the euro is needed in “more shortly than three months.”

“The construction of the eurozone has taken time,” she said, “and it’s a work in construction at the moment.”

Advertisement

Osborne criticises Spain bailout

George Osborne has said the failure of the Spanish bank bailout is "depressing" as the banks had to be directly recapitalised into to convince the markets of its credibility. Spain's borrowing costs have hit the highest level for 13 years.