Sem outras soluções, Itália e Espanha entrarão em crise e não poderem financiar-se, e a Europa não terá recursos para o fazer - provocando recessão em grande escala. Lagardere recorda a grande depressão.
Artigo de topo no WSJ online.
"It is about avoiding a 1930s moment, in which inaction, insularity, and rigid ideology combine to cause a collapse in global demand," IMF Managing Director Christine Lagarde said in prepared remarks before the German Council of Foreign Affairs in Berlin. "A moment, ultimately, leading to a downward spiral that could engulf the entire world," she said.
Ms. Lagarde said unless euro-zone leaders urgently build a bigger emergency bailout fund, two of the euro zone's largest economies, Italy and Spain, risked insolvency as the cost of financing their debt spikes upward. Economists said failures in the two economies could spark a global financial and economic meltdown, and IMF staff are urging Europe to at least double the size of their firewall to around €1 trillion.
Insolvency in those two nations "would have disastrous implications for systemic stability," she said.
Artigo de topo no WSJ online.
"It is about avoiding a 1930s moment, in which inaction, insularity, and rigid ideology combine to cause a collapse in global demand," IMF Managing Director Christine Lagarde said in prepared remarks before the German Council of Foreign Affairs in Berlin. "A moment, ultimately, leading to a downward spiral that could engulf the entire world," she said.
Ms. Lagarde said unless euro-zone leaders urgently build a bigger emergency bailout fund, two of the euro zone's largest economies, Italy and Spain, risked insolvency as the cost of financing their debt spikes upward. Economists said failures in the two economies could spark a global financial and economic meltdown, and IMF staff are urging Europe to at least double the size of their firewall to around €1 trillion.
Insolvency in those two nations "would have disastrous implications for systemic stability," she said.
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