TIANJIN, China: The euro zone debt crisis still has a long way to go before it ends and Europe needs to keep faith in the single currency, International Monetary Fund deputy managing director Zhu Min said on Tuesday.

"Overall I would say the crisis is not over. We are still in the middle of it and there is some way to go," Zhu told a World Economic Forum meeting in the Chinese port city of Tianjin.

"But it is moving in the right direction - that's very important. We should have confidence, and we should have confidence in the euro," he added.

Europe's debt crisis has festered for more than three years, and investors widely expect the 17-member euro zone economy to slide into recession in 2012 as a result of the failure to solve the crisis and engineer a recovery.

News: The Daily Sun/Bangladesh/12-Sep-12