Christine Lagarde, managing director of the International Monetary Fund (IMF), sees no alternative to the strict austerity policies being imposed on many peripheral European countries, says the double dip recessions in Italy and Ireland just announced come as no surprise, and notes that IMF reforms will shift 6% of current quotas to dynamic emerging and developing countries.
Only 6% ? is not that a cheap price to pay for the rescue ?
Enjoy a very good interview.
Christine Lagarde: Emerging Market Nations Will Get More Power in the IMF - Knowledge@Wharton