IMF: Global Economy Entering Dangerous Phase

IMF: Global Economy Entering Dangerous Phase: WASHINGTON -- Top global finance officials are pledging to work decisively and in a coordinated way to deal with a European debt crisis and other dangers confronting the global economy.
The International Monetary Fund's policy-setting committee says the economy has entered a dangerous new phase. The panel says close watching of the situation and a willingness to take bold actions quickly are crucial.