JANUARY 23, 2012, 7:14 A.M. ET.
Lagarde Says Europe Must Boost Firewall
JANUARY 23, 2012, 7:14 A.M. ET.Lagarde Says Europe Must Boost Firewall .
IAN TALLEY The global economy faces a depression-era collapse in demand if Europe doesn't quickly act to dramatically boost the size of its debt-crisis firewall, implement pro-growth policies and further integrate the euro zone, the head of the International Monetary Fund warned Monday.
"It is about avoiding a 1930s moment, in which inaction, insularity, and rigid ideology combine to cause a collapse in global demand," IMF Managing Director Christine Lagarde said in prepared remarks before the German Council of Foreign Affairs in Berlin. "A moment, ultimately, leading to a downward spiral that could engulf the entire world," she said.
The dire warning ...
IAN TALLEY
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http://online.wsj.com/article/SB10001424052970203806504577178501691318804.html?mod=googlenews_wsj
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