Christine Largarde’s European tour this week comes as the eurozone crisis heats up again and with the International Monetary Fund crucial to saving the increasingly fragile currency bloc.
European leaders are having trouble raising the two hundred billion euros promised to the IMF, to help Italy and possibly Spain with their borrowing difficulties.
But it is Greece which heads the at-risk list. Athens faces a debt default in March without the next bailout package from European partners and the IMF, but that depends on the glacial progress of talks with the banks and investment funds that are being asked to accept 50 percent losses on their Greek bonds.
With IMF help, European leaders face the daunting task of restoring market confidence in the finances of struggling euro area countries and getting their economies working again.