IMF and Germany play down tensions over debt crisis |
| Globe and Mail - Oct 12, 2012 |
Christine Lagarde and Wolfgang Schauble put on a show of unanimity on Friday in Tokyo, seeking to dispel impressions of high-level splits over the handling of the eurozone crisis.
A day earlier, the German finance minister had appeared to accuse the head of the International Monetary Fund of backpedalling on an earlier commitment to fiscal consolidation, after Ms. Lagarde endorsed a new study that found Brussels and the IMF had underestimated the impact of austerity measures on economic growth during the crisis.
But on Friday in Tokyo, during a televised debate hosted by the BBC, the pair – at the centre of a four-person panel – played down suggestions that there were fundamental differences between them.
When asked whether Greece should be acting on the prescription of the IMF, or of Germany, Mr. Schauble said “there is no difference, never. It is impossible. We always agree.”
Ms. Lagarde commented: “We work hand in hand. [The European Commission, the IMF and the European Central Bank are] on the ground at the moment, looking at what can be done, what should be done . . . over a decent, reasonable period of time.”
Read Full Article from Globe and Mail
- Posted: 2012-10-12 12:10:28
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