IMF's Koehler says now not time for EU deficit cap

IMF chief Horst Koehler told an Austrian daily, according to Reuters, that it was not the right time to force eurozone countries to stick to the 3 percent deficit limit. He added that he did not favour letting countries that have been too loose with their public finances off the hook, however. He was also positive on the global economy, saying be believed it "is on the road to recovery".

Source: Reuters

The head of the International Monetary Fund (IMF) said now was not the time for the European