IMF's Lagarde to attend EU summit on Greece rescue

WASHINGTON: International Monetary Fund chief Christine Lagarde will attend Thursday's European summit aimed at hashing out a new rescue package for Greece, an IMF spokesman said Tuesday.

It will be Lagarde's first international appearance as IMF managing director since she took office on July 5.

Previously, she was deeply involved in the eurozone financial crisis, and the first, 110 billion euro ($160 billion) IMF-European Union bailout of Greece, as France's finance minister.

On Tuesday the IMF urged the EU to reach a quick decision on a plan for Greece, saying the longer it waits and negotiates, the greater the danger of a debt "contagion" hurting the entire EU and global economy.

"We should not delay any longer clarifying some of the uncertainties that are hanging over the solutions of the sovereign crisis in the periphery," said Luc Everaert of the IMF's European Department.

"The crisis in the periphery is not fully addressed yet. (IMF) directors think this should be done very urgently," he said.

Copyright AFP (Agence France-Presse), 2011