IMF chief welcomes progress made at EU summit (by Polya Lesova)
LONDON (MarketWatch) -- The managing director of the International Monetary Fund said on Friday that the decisions taken at the European Union summit in Brussels "are an important contribution to helping address the crisis facing the euro zone and strengthening the global economic recovery." In a statement, Christine Lagarde also said that she particularly welcomes progress on boosting fiscal discipline, accelerating the entry into force of the European Stability Mechanism and the commitment by EU members to provide more resources to the IMF by up to 200 billion euros. "These resources will enhance the IMF's capacity to fulfill its systemic responsibilities in support of its global membership -- which is especially important given the ongoing economic slowdown and financial market tensions," Lagarde said.