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.
As countries across the world attempt to slow global warming, the switch to electric vehicles is particularly significant. But that requires wrenching change that is a death knell for hundreds of companies that make components for conventional engines. They will be obsolete in an EV world
While concerns about the geopolitical order, climate change and the Covid-19 pandemic have understandably been in the spotlight, water is rarely discussed outside the context of humanitarian responses to local, national, or transboundary floods or droughts
Epicentre was in Hindu Kush mountain range, near the remote northern Afghan province of Badakhshan
Traders largely expect a 25-basis-point rate hike from the Fed on Wednesday
The Supreme Council for Islamic Affairs did not receive any report or testimonies from sky gazers
Iraq war cost both sides dearly and left America wary of any intervention
As per astronomical calculations, the ninth month of the Islamic calendar will last for 29 days this year
As many as 12,000 banking staff could become unemployed as unions demand rescue package
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