IMF’s Lagarde Urges Europe to Implement Crisis Plans

International Monetary Fund Managing Director Christine Lagarde urged European policy makers to implement their plans to save the euro, including the formation of a banking union, as the fund prepares to lower its global growth forecasts.

Uncertainty over the ability of policy makers around the world to deliver on their promises is weighing down on the global economy, Lagarde said in prepared remarks for a speech in Washington today. While the euro region is where action is the most urgently needed, the U.S. also poses a “major risk” through the fiscal tightening that may take place next year, she said.