Lagarde: monetary and fiscal policy must nurture eurozone back to growth
IMF managing director warns Europe of vicious cycle of economic decline
Christine Lagarde, managing director of the International Monetary Fund, today told an audience in Paris that the Europe Central Bank (ECB) should continue working to hit its "price stability objective", adding that fiscal policy should stand ready to compensate for any negative growth shock in the eurozone.
Speaking this morning at the Robert Schuman Foundation, Lagarde – who previously served as France's finance minister – warned of a vicious cycle in which "persistently high unemployment and
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