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Eurozone Recovery Remains Fragile
Some European economies, notably Germany and France, have rebounded to pre-crisis levels.
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Some European economies, notably Germany and France, have rebounded to pre-crisis levels. But the eurozone's overall recovery remains weak, the International Monetary Fund cautions.
The IMF reiterates a warning that the region needs much stronger growth to reduce unemployment, cut member debt and bolster its "worryingly low" 0.5% inflation rate.
The fund urges the European Central Bank to consider a large-scale asset purchase program, such as the one launched two years ago by the U.S. Federal Reserve. The IMF suggests the bank could make a "significant impact" on demand and inflation by purchasing government debt or bonds within the eurozone.
BBC News notes that the ECB did buy government bonds earlier during the economic crisis. But those purchases targeted countries with unusually high interest rates for businesses and consumers.
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