Global Financial Stability at Risk? IMF Demands Swift Banking Union in Europe

The International Monetary Fund is losing patience with European politicians. Officials at the Washington-based institution are calling on the EU to present a clear plan for its banking union. Europe's debt and euro crisis, the IMF warns, remains a persistent threat to the global economy.
The skyline of German financial center Frankfurt: "Commitment to a clear roadmap on a banking union and fiscal integration are needed to restore confidence," warns the IMF.

The skyline of German financial center Frankfurt: "Commitment to a clear roadmap on a banking union and fiscal integration are needed to restore confidence," warns the IMF.

Foto: BERND KAMMERER/ AP
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