The International Monetary Fund's debt inspector for Ireland says Europe's response to its debt crisis has been “insufficient.”
Ajai Chopra said Thursday that “what we need, and what is lacking so far, is a European solution to a European problem.”
Chopra also said that a recent downgrade for Ireland was prompted more by developments outside the country than by its own implementation of its bailout program.
The eurozone's failure to agree on the terms of a second bailout for Greece has driven up market panic in other struggling countries in the currency union in recent weeks. A deal has been held up by difficult talks on how banks can contribute to the new package.
Chopra urged the eurozone to sort out the private sector's involvement. - Sapa-AP