IMF chief economist Olivier Blanchard
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'No panic' over europe debt crisis, says IMF boss

The global economy has entered a "dangerous new phase" of sharply lower growth, according to the International Monetary Fund (IMF).

The organisation warned that continuing political and economic woes in the US and eurozone could force them back into recession.

IMF chief economist Olivier Blanchard said the situation was tough but there was no need for panic.

  • 20 Sep 2011