Don’t go it alone, warns head of IMF

The head of the International Monetary Fund Dominique Strauss-Kahn today appeared to criticise Germany for breaking ranks with fellow European countries over the credit crisis.

Warning against going it alone, Strauss-Kahn said: "Europe must prepared to put in place a collective line of defence."

He added that leaders need to consider a total overhaul of the international financial system, including a rethink on the structure of his own organisation.

"The main risk I see after the immediate crisis, once the fire has been extinguished, is that the main leaders, tired from putting out the fire, rest on their laurels.