IMF Chief Lagarde To Mario Draghi "You can do more"

Aug. 1, 2012 - PRLog -- Washington , the head of the International Monetary Fund (IMF), Christine Lagarde, has warned of a loss of confidence in the global economy. This crisis was not only in the euro area, but also the uncertain budget situation in the U.S., said Lagarde on Wednesday in Washington.


"We see clearly a decline in trust." It expresses "doubts" about the ability of political leaders to implement the measures to combat the crisis, to which they had committed. "If Europeans are to their announcements that they have made at the summit in late June, then we have reason to hope that the situation is improving," said Lagarde.
The IMF chief calls on Europe "vision" a: "We hope that some of the Europeans on the cornerstone, in order to clarify what kind of vision they have for the future of Europe. And so I do not mean Europe in three months. Investors who need to buy a ten-year government bonds in Spain know how Spain will be in ten year. "
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For Greece, which had the coalition government agreed on Wednesday evening on a new savings program that was on Lagarde praise. "It's amazing what the Greeks have achieved so far. We speak of a deficit reduction of 6.5 percent since the end of 2009, "said the Frenchwoman. "But there is still much that needs to improve the country. Structural reforms are needed, "said Lagarde. In addition, wealthy would be taxed more consistently.
Lagarde said that not only the ailing euro-zone was responsible for the depressed mood. Europe is "not the only problem," said the IMF's General Director. The budgetary situation in the U.S. raises "important questions".

Above all, Lagarde referred to the uncertainty associated with the end of expiring tax cuts and stimulus measures and impending cuts to the lawn mower principle. Washington must do everything to ensure this "fiscal cliff" to circumnavigate, she warned.
The Director of the International Monetary Fund urged the European Central Bank (ECB) to further efforts to support the economy prompted the euro zone. "You can do more," said Lagarde. At the same time they appreciated the recent comments by ECB president Mario Draghi, to "do everything" to save the euro.