SINGAPORE — The International Monetary Fund (IMF) warned Asia on Wednesday of potential spillovers from the European debt crisis, which is unfolding a decade after the region underwent its own financial turmoil."Adverse developments in Europe could disrupt global trade, with implications for Asia given the still important role of external demand," IMF deputy managing director Naoyuki Shinohara told a forum in Singapore.
On the financial front, he said major credit problems could result in a "significant spillover" through funding channels, especially where banks depend on wholesale funding. Full Story
