German Chancellor Angela Merkel and International Monetary Fund (IMF) managing director Christine Lagarde met yesterday with representatives from the world's main economic organizations and repeated their dogma that the recovery in the global economy is fragile but that fiscal consolidation must continue apace.

They added that the Eurozone must forge ahead on policy measures aimed at enhancing growth, while also urging the United States to -for once and for all- embark on a credible path towards public debt reduction.

"Decisive action has to be taken to ensure fiscal consolidation at an appropriate pace coupled with structural reforms. Policy action will need to maximize synergies between macroeconomic and structural instruments," they said in a joint statement.

JM

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