INTERNATIONAL Monetary Fund chief Christine Lagarde has told an audience in China the euro has a solid future and she hopes no more countries in Europe will need bailouts.
"I think the collective political will ... to maintain, defend, protect and enhance the monetary zone and currency zone has been largely underestimated," Lagarde said on Sunday.
"The euro has a future and has a long-standing one."
The former French finance minister spoke during a question-and-answer session that followed an address she gave at the Boao Forum for Asia, an annual conference of political and economic leaders held on the Chinese island of Hainan.
Her appearance prompted questions from audience participants about the situation in Cyprus, where the Mediterranean country struck a 10 billion euro ($A12.5 billion) bailout deal with the European Union, the European Central Bank and the International Monetary Fund - the so-called troika.
Asked specifically about the prospect for further crises, Lagarde said: "I don't have a crystal ball.
"My dearest hope is that there is not yet another country down the line that needs to be repaired and that could require support from both the European partners and the IMF."
She added, however, that Cyprus represented a unique case and reminded her audience the country's economy amounted to a mere 0.2 per cent of Europe's economy.
"I don't mean to be derogatory about this country," she said, noting its status as a member of Europe and of the IMF.
"But it was a very specific case in many respects," she added, citing factors such as the the size of the banking sector relative to the Cyprus economy.
Lagarde also said she hoped European authorities would learn from experiences over the past couple of years and "decide to accelerate the consolidation of their currency zone".
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