A statement from the International Monetary Fund (IMF) has notified that Europe's debt crisis has pushed the banks towards 300 billion Euros losses that they may incur so the banks should lift up capital to defend the overall economy from more tumult.

IMF stated that the financial damages that have emerged from weak members of Eurozone have adversely affected the banks by fetching them 200bn Euros losses, since the problem which started last year.

IMF has notified that the figures revealed can only be guaranteed after tallying them with the bank's balance sheets but still these figures indicate the present scenario of the economy and the future risks prevailing.

IMF stated that the credit crisis of the world has entered a political phase, as governments have been trying hard to overcome the situation and the European nations have been discussing how to liberate their member states. IMF has asked the policymakers of the Eurozone sanction the suppleness of Europe's rescue fund.

"The set of policy choices that are both economically viable and politically feasible is shrinking as the crisis shifts into a new, more political phase", IMF said.

Also, the downgrade of US debt-rating and the exposure of capital deficits of banks have brought back the threats and the world has been looking for financial stability.