2012 will not be the end of the Euro, says IMF's Christine Lagarde

IMF chief says she has faith in the currency despite the debt crisis Europe is facing.

The managing director of the International Monetary Fund (IMF), Christine Lagarde, has said she does not think 2012 will be the end of the Euro.

Speaking in South Africa on her first tour since taking on her position, she said, "Will 2012 be the end of the euro currency? I seriously don't think so. Its a young currency, its a solid one as well."

Lagarde went on to say "You have within the zone, not in relation to the currency, serious pressure and issues concerning the sovereign debt, concerning the strength of the banking system which are being addressed. But the currency itself is not one that would vanish or disappear in 2012, not at all."

EU leaders are set to meet in the coming weeks to discuss the Eurozone currency.