IMF in eurozone 'shock' warning

AOL Money Staff
Pound on sterling and euro notes
Pound on sterling and euro notes

An escalation of the eurozone crisis would deliver a "substantial contractionary shock" to the UK economy, setting back progress made towards recovery, the International Monetary Fund (IMF) has warned.


In a report on the UK, the IMF identified uncertainty over the future of the euro as the main danger to recovery and warned: "Risks are large and tilted clearly to the downside."