IMF: 'Time to save euro running out, less than three months for action'

Action to save the euro is required in “more shortly than three months,” International Monetary Fund (IMF) Managing Director Christine Lagarde said in an interview to CNN.

Lagarde’s response came after a reporter pressured the official to access billionaire investor George Soros’ remarks that Euro leaders had three months to save the euro.

“The construction of the eurozone has taken time,” Lagarde said as she tried to avoid setting a deadline for the actions. “And it’s a work in construction at the moment.”

But the the IMF Director ended up giving in to the interviewer’s pressure and agreeing action was needed “more shortly than three months”, a statement that is tape recorded and of free access at the network's web site.

She publicly denied the three-month deadline later after her remarks jittered markets today.

Lagarde declined moreover to forecast whether Greece would exit the eurozone.“It’s going to be a question of political determination and drive,” she said.