IMF calls for action on eurozone

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The International Monetary Fund (IMF) has warned that urgent action is needed to solve the eurozone debt crisis.

"It would be very costly not just for the eurozone but for the global economy to delay tackling the sovereign crisis," IMF official Luc Everaert said in a report.

The report goes on to urge eurozone leaders to increase the size of their rescue fund.

But has this call for action come too late? A question the BBC's Sharanjit Leyle put to former IMF chief economist and Harvard professor, Ken Rogoff.

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