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EU leaders aim to ease investor fears

EUROPEAN leaders must convince investors they can fix the region's debt crisis as they overhaul governance of the EU and create a permanent system to offer members financial support after bailing out Ireland and Greece, IMF managing director Dominique Strauss-Kahn has said.

Speaking in Paris at the G20 meeting over the weekend, Mr Strauss-Kahn said he was "confident" the EU's debt crisis could be resolved by the end of March.

"Markets aren't everything, but markets are important," he said. "You have to be doing something that will be seen, not only by markets, to work."

While talks continue as governments prepare for two summits in Brussels next month, the EU's decision-making process has sometimes slowed a resolution to the crisis.

If a solution "comes too late, you're always behind the curve", Mr Strauss-Kahn added. (© Bloomberg)

Irish Independent