Debt problems in Portugal, Ireland and Greece run the risk of spreading to stronger economies in the eurozone and into Eastern Europe, the International Monetary Fund said. "Strong policy responses have successfully contained the sovereign debt and financial sector troubles in the euro area periphery so far, but contagion to the core euro area, and then onward to emerging Europe, remains a tangible downside risk," the IMF said in its semiannual report on the European economy.

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