Time for timidity has passed, says Lagarde


Christine Lagarde, managing director of the International Monetary Fund, on Monday said "the time of action is upon us...the time of timidity has passed".

Speaking in Moscow, Lagarde said she saw "dark clouds gathering in the west", and leaders needed to respond.

"We saw the euro area leaders take some important steps just a few weeks ago; and we saw the G-20 leaders take some further steps just a few days ago," she said. "Granted, there is much work left to do, but I am impressed with the

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