IMF head: Ireland will come back on track

The head of the International Monetary Fund has said we should not underestimate the importance of Europe's debt crisis.

The head of the International Monetary Fund has said we should not underestimate the importance of Europe's debt crisis.

Speaking in India this morning, Dominique Strauss-Kahn said the crisis in Ireland is mostly coming from the banking sector.

But he said he believes the decisions made will fix the problems in the banking sector and that the Irish economy will come back on track quite rapidly.

Mr Strauss-Kahn was speaking to reporters after meeting Indian Finance Minister Pranab Mukherjee in New Delhi.

The comments come ahead of a crucial European Central Bank meeting later today at which the ECB is expected to announce further measures to try and contain the debt crisis across eurozone.

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