Published by Jamie JemmesonGreece will not be the only member of the EU to call on the International Monetary Fund (IMF) for aid, according to acclaimed economist Kenneth Rogoff.The Harvard professor and former chief economist at the IMF said that "at least" one more country will need to apply for emergency funding within the next two to three years."The budget cuts needed in Europe in many countries are profound ... The stakes are very high for Europe as it wants to avoid contagion," he commented.Mr Rogoff's warnings came as Greece formally applied for IMF support over the weekend, helping to provide support for the euro in foreign exchange trading this morning (April 26th).He said that chances that more EU countries will need to apply for IMF support are "better than 50-50".Mr Rogoff was among a clutch of economists to predict the fall of a major US bank prior to the collapse of Lehman Brothers in September 2008.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site