World Entering 'Dangerous New Phase': Lagarde -- CNBC
Christine Lagarde, the managing director of the International Monetary Fund, warned that the global economy is entering a "dangerous new phase" on Friday, ahead of the G7 summit in Marseilles, France.
She warned that both advanced and emerging economies faced key economic challenges, and that governments must "act now" to stop further contagion.
"Policymakers should stand ready, as needed, to take more action to support the recovery, including through unconventional measures," Lagarde said.
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My Comment: IMF Chief Lagarde is focusing her concerns/ire at this situation .... but she is already too late.
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