IMF's Christine Lagarde urges global action as G7 meet

[nadinbrzezinski]

International Monetary Fund chief Christine Lagarde has urged "bold action" on the faltering world economy, as the G7 group of leading economies met for talks in Marseille.

The G7 is discussing a "coordinated response" to the economic turmoil.

The two-day meeting comes as the Organisation for Economic Co-operation and Development (OECD) predicted a global slowdown this year.

Europe is also struggling with a sovereign debt crisis.

"The key message I wish to convey today is that countries must act now - and act boldly - to steer their economies through this dangerous new phase of the recovery," Ms Lagarde said in London, before flying to the G7 meeting.

http://www.bbc.co.uk/news/business-14851393

Comment http://posterous.com/#spaces/nadinbrzezinski/posts/70344852

[elleng]

1. I wish I could feel that SOMEONE knew what to do. 'Austerity, NO.'

'The IMF chief praised the UK's plans - with several caveats.

"Since the summer, the outlook has become more subdued - including in the rest of Europe and the United States, the UK's major trading partners. So risk levels are rising," she said.

"The policy stance remains appropriate, but this heightened risk means a heightened readiness to respond - particularly if it looks like the economy is headed for a prolonged period of weak growth and high unemployment."

In response, Labour's Ed Balls again argued for temporary tax cuts to help kick-start the economy.

"While George Osborne insists there can never be a change of course and we must plough on regardless, Christine Lagarde rightly warns ministers will need to act if slow growth and high unemployment continues," the shadow chancellor said.'

[nadinbrzezinski]

2. All I will say here is IMF is chicago controlled

for some of my "fans"

[SixthSense]

3. "coordinated response"

= giving our money to the large banks which control these governments

[Javaman]

4. I find it interesting that the various world powers can have a panic over

their finances going belly up, but don't freak out over climate change which is adding to their budgetary woes yearly on an almost exponential basis.

as always: money fix it now; nature...it can wait a while until the next massive disaster comes along and breaks our banks.