, Columnist
Lagarde's Bazooka Isn't Big Enough for This Crisis
Central banks are doing all they can. Governments need to respond with fiscal policy.
Preparing for the Lagarde announcement.
Photographer: Carsten Koall/Getty Images
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On one thing it seems that everyone agrees. The world has changed in the last two months, and by the time the pandemic subsides, it will have changed utterly. The Archbishop of Canterbury (who started his career as an oil executive before going into the church), has likened the impact to a nuclear explosion — “the initial impact is colossal but the fallout last for years and will shape us in ways we can’t even begin to predict at the moment."