Press Release No. 12/114

Press Release: Statement by IMF Managing Director Christine Lagarde on the Euro Area Firewall

March 30, 2012

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today:

“I welcome the decision of Euro Area Ministers to strengthen the European firewall. The IMF has long emphasized that enhanced European and global firewalls, together with the implementation of strong policy frameworks, are critical for ending the crisis and securing international financial stability. The combination of the ESM and the EFSF, along with other recent European efforts, will strengthen the European firewall and support the IMF’s efforts to increase its available resources for the benefit of all our members.”