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IMF Head Says Euro Will Make It Through 2012

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By Douglas A. McIntyre Published

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IMF chief Lagarde says the euro will last through 2012. It is hard to say on what her comments are based. Unemployment in the eurozone was 10.3% in November. It is much higher in some nations. Spain’s rate is over 22%.

Austerity remains an enemy to job stimulus. Bailouts of sovereigns will likely cost hundreds of billlions of euros. It is not clear whether Spain and Italy can last the year without aid. Some of their borrowing costs has become unsustaibably high.

According to Reuters,

“Will 2012 be the end of the euro currency? I seriously don’t think so. Its a young currency, its a solid one as well,” Lagarde told journalists on a visit to South Africa.

The IMF may be the key to the chance of the euro’s survival. The huge bailout fund to be set by EU nations is not finished and the ECB says it is not willing to be part of a rescue plan

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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