Looks like the new head of the IMF isn't looking to make any friends in banking. Christine Lagarde, the new head of the IMF (replacing Dominique Strauss-Kahn), gave a speech today at Jackson Hole in which she said that banks need "urgent recapitalization".
"European banks need urgent recapitalization. They must be strong enough to withstand the risks of sovereigns and weak growth. This is key to cutting the chains of contagion. If it is not addressed, we could easily see the further spread of economic weakness to core countries, or even a debilitating liquidity crisis. The most efficient solution would be mandatory substantial recapitalization—seeking private resources first, but using public funds if necessary. One option would be to mobilize EFSF or other European-wide funding to recapitalize banks directly, which would avoid placing even greater burdens on vulnerable sovereigns."
Needless to say, her comments weren't taken well by European bankers who have dismissed the idea along with the German and French finance ministries. Was she right in saying banks need recapitalization now? Or is she just another face in the line of cough prestigious cough head of the IMF?
1) Jackson Hole is in Wyoming 2) Stop saying she. It is a he 3) She is right
My question exactly
Fuckin A
I hate that woman ! you 're right it's a he !!! anyway , any restructuration idea would annoyed banks! Whenever you want to watch lesbienne, go and visit this amazing website full of sadomaso
People listen to the IMF? This is even less of a news story than Irene was.
Haha. She is right though and if this is any indication of EU-IMF relations then people are gonna get fucked.
I am not sure what it is, but it is right for once, and maybe the last time.
And here, for any more proof that most mainstream writers should starve, read this shit: http://www.guardian.co.uk/world/2011/jul/17/christine-lagarde-worlds-se…
[quote=Jesse.Livermore]I am not sure what it is, but it is right for once, and maybe the last time.
And here, for any more proof that most mainstream writers should starve, read this shit: http://www.guardian.co.uk/world/2011/jul/17/christine-lagarde-worlds-se…]
If it is the sexiest thing in the world we might as well just jump off of a building because the human race as whole is fucked.
Restructuration. That is a new one.
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