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Posted by Editor on 29th January 2012 at 12:13 PM
IMF Global Financial Stability Report
In its GFSR update, the IMF said global financial stability has moved deeply into the danger zone as sovereign bond spreads in the euro area have widened, and the European Central Bank has been forced to play an increasingly vital role in sustaining the euro area financial system.

Despite the efforts of European policymakers to contain the euro area debt crisis and related banking problems, a comprehensive and decisive policy response is still needed, the IMF said.


Shotlist:
IMF, Washington D.C. – Recent
1. Exterior of the IMF
2. Wide shot of the presser

Washington, DC 24 January, 2012
3. SOUNDBITE: (English) José Viñals, Financial Counsellor, IMF: "Many of the root causes of the Euro area crisis still need to be addressed before the system is stabilized and returns to health. Until this done, global financial stability is likely to remain well within the danger zone where misstep or failure could raise underline tensions and could precipitate global crisis with grave economic and social consequences."
Washington, D.C. – today
4. Various cutaways of the presser
Washington, DC 24 January, 2012
5. SOUNDBITE: (English) José Viñals, Financial Counsellor, IMF: "As regard banks, deleveraging by European banks may ignite an adverse feedback loop to Euro area economies and beyond, even if acute pressures have been mitigated by recent extraordinary measures by the European Central Bank. Like cholesterol, deleveraging can be good, can be bad. Banks, if had excessive levels of leverage, and had expanded in a number of non-core areas before the crisis. So, increasing bank capital levels, shedding bad loans, and withdrawing non-core business should be encouraged."
Washington, D.C. – today
6. Various cutaways of the presser

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