Wknd. KTBuzzon Inspired Living Indulge City Times KT Mobile KT ePaper KT Competitions Subscribe KT
Khaleej Times Google Plus Page Khaleej Times Facebook Page Khaleej Times Twitter Page Khaleej Times on Instagram
  UAE Sports
  Horse Racing
  Sports Talk
  Inspired Living
  Parent Talk
  Used Cars
Business Home > International
Europe is ‘at a crossroads’: Lagarde

(AFP) / 9 June 2012

International Monetary Fund Managing Director Christine Lagarde on Friday urged European leaders to act without delay to overcome the eurozone crisis.

Speaking in New York, Lagarde said that five years into the crisis, the goal of a safer financial system has not yet been attained.

“We are still at a great distance from our final destination,” she said. “And with the stakes rising by the day, we stand at a crossroads.”

Lagarde appeared to respond to German Chancellor Angela Merkel, who spoke about long-term plans of rebuilding Europe while other European leaders insist on quick solutions.

“Policymakers need to lay out and follow a clear roadmap of how to finish the job — not just looking to the next five or ten years, but looking to the next weeks and months ahead,” Lagarde said.

She noted at the same time that restoring the health of European banks was in the interests of all and would require a European solution.

“Let me be clear: The heart of European bank repair lies in Europe. That means more Europe, not less,” she said.



comments powered by Disqus