The global financial crisis can be solved if countries act quickly, forcefully and in a coordinated fashion, IMF managing director Dominique Strauss-Kahn said on Thursday.

"Our view is that the situation is very serious, but at the same time we can solve problems if we act quickly, forcefully and (in a) coordinated (way)," Strauss-Kahn said at a press conference ahead of the fall meeting of the International Monetary Fund and the World Bank.

Strauss-Kahn laid out some guiding principles for handling the crisis, including the need for any government action to have clear objectives and strong oversight of how funds are spent.

He also urged action to be coordinated at the global and regional level, and said taxpayers should be able to share in the upside risk of a rescue package once the crisis fades.

"I urge European countries to work together. There is no domestic solution for a crisis like this," Strauss-Kahn said. - Reuters