IMF cuts euro zone forecasts, further global slowdown could derail Europe's recovery
- Need stronger enforcement of euro zone fiscal rules, political uncertainty rising with Brexit
- Most euro zone nations cannot afford fiscal stimulus
- Brexit impact will be worse if risk aversion in financial markets continues for a long period
- EU needs to exercise flexibility on state aid for banks
- Euro zone banks need to start writing off non-performing loans more rapidly
- Bank regulators should encourage more bank consolidation