In an interview with CNN, IMF Managing Director, Christine Lagarde, admitted that action was required to save the euro in a timefame that was “more shortly than three months”. Whilst she subsequently played down her comments in order to soothe market nerves, it has been seen as an echo of comments made by billionaire investor, George Soros, last week.

Her response came after pressure by the interviewer to respond to the comments by Mr. Soros. However she would not be drawn on the short term future of Greece within the eurozone as markets anxiously await the outcome of this weekends elections and the economic consequences of the results. Speaking to that matter, Ms. Lagarde said that the future direction for Greece post election would be a question of “political determination”.