EU must address debt crisis, says Strauss-Kahn

International Monetary Fund Managing Director Dominique Strauss-Kahn said European Union leaders must convince investors that they can fix the region’s debt crisis and he’s “confident” they will do so by the end of next month.

“Markets aren’t everything, but markets are important,” Strauss-Kahn said in a Bloomberg Television interview with David Tweed in Paris. “You have to do something that will be seen, not only by markets, to work.”

After rescuing Greece and Ireland, EU leaders are now seeking to overhaul the governance of the 17-nation euro area and create a permanent system to offer members financial support. While talks continue as governments prepare for two summits in Brussels next month, the EU’s decision-making process has sometimes slowed a resolution to the crisis that began more than a year ago.