LONDON (SHARECAST) - International Monetary Fund (IMF) managing director Christine Lagarde has called the Eurozone to action, but paradoxically also asserted that problematic countries may need more time.
At the IMF and World Bank Annual Meetings in Tokyo, Lagarde made it clear that, “we expect action and we expect courageous and co-operative action on the part of our members”.
However, she also favoured giving Greece a two year extension on its bailout requirements. “It’s sometimes better to have a bit more time. This is what we advocated for Portugal, this is what we advocated for Spain and this is what we are advocating for Greece,” she explained.