Tag Archives: Christine Lagarde

Leave “fairy world” behind, Draghi tells euro zone

By Daniel Flynn and Leigh Thomas – The euro zone‘s crisis is far from over and its members must tighten budgets and forge a banking union to leave behind the “fairy world” that allowed problems to grow, European Central Bank President Mario Draghi said on Friday (Nov 30).

Draghi’s call for reform was echoed by International Monetary Fund chief Christine Lagarde, who said implementing a banking union with powers to supervise all banks in the euro zone should be the currency bloc’s top priority. more> http://tinyurl.com/czsvphq

IMF’s Christine Lagarde: ‘I Don’t Pay Taxes, But You Should’

By Robert W. Wood – IMF chief Christine Lagarde suggested in an interview with UK’s Guardian that the Greeks should pay their taxes. It turns out Ms. Lagarde-legitimately-doesn’t pay them herself.

No taxes is the norm for most United Nations employees covered by a convention on diplomatic relations signed by most nations. If you look at salaries, those working for the IMF, World Bank, and United Nations can stretch their dollars.

Of course, Americans face famously complicated tax rules including worldwide reporting. See Expats Lobby For Tax on Residence, Not Worldwide Income. more> http://tinyurl.com/brwxc4x

Fragile world, fractious leaders

By Stella Dawson – Growth in emerging economies is slowing and the recovery in the United States could be losing some momentum, worrisome developments when European leaders have yet to complete the repairs needed to shore up monetary union.

The situation forms a vulnerable backdrop for finance officials from the world’s leading economies, who gather in Washington this week for the Group of 20/International Monetary Fund/World Bank meetings.

The managing director of the IMF, Christine Lagarde, has offered this blunt description: “The risks remain high; the situation fragile.” more> http://tinyurl.com/6oqog6k

Specter of credit crunch returns as banks pump money into markets

By James Kirkup – The central banks’ fresh intervention, which will run from October until December, was driven by the deepening crisis in the euro zone, which is struggling to cope with the debts of countries including Greece.

Investors, particularly US money-market funds, are increasingly worried that the European banks are exposed to huge losses on loans they have made in Greece and other indebted euro zone countries. more> http://twurl.nl/2oumbu