Reuters
Italy and France should cut spending faster than they currently plan to keep debt under control while Germany should loosen its own purse strings to revive growth, the International Monetary Fund said on Friday. While the IMF's advice is not binding for countries that do not receive its help, its latest musings on Italy, France and Germany are likely to bring back uncomfortable memories of the last decade's debt crisis. "Advanced European economies with relatively high debt levels should implement more significant and front-loaded fiscal consolidation than envisaged under the authorities' current policies (for example, Belgium, France, and Italy)," the IMF said in its economic outlook for Europe.