Business Live: Paris — Incoming European Central Bank (ECB) chief Christine Lagarde on Wednesday took aim at Germany and the Netherlands which are running a budgetary surpluses, saying they should increase their spending to shore up slowing growth.
Lagarde told France’s RTL radio that whereas eurozone members had successfully coordinated their fiscal policies to save the bloc during the 2008/2009 sovereign debt crisis, “since then the countries which have budgetary space have not really made the necessary efforts”.
She argued that “countries with chronic budget surpluses like the Netherlands and Germany”, needed to loosen their purse strings to redress the “imbalances” in bloc, by investing more in infrastructure, education and innovation. more …
Opinion: That, with the debt of world over $24,000,000,000,000 (trillion). That, with most of the EU on the verge of recession. And that, was her 1st day on the job.
Christine Lagarde, formerly the managing director of the International Monetary Fund (IMF), joined the ranks of the most ardent climate alarmists. On October 28, 2017, Lagarde predicted that Armageddon is coming if the human race does not tackle climate change.
“If we don’t address the issues of climate change and inequality”, Ms. Lagarde said before a major economic conference in Riyadh, “we will be moving to a dark future.”
Speaking directly to the question of global warming, Lagarde sounded like AOC “we will be toasted, roasted and grilled” if humanity fails to make “critical decisions” regarding carbon emissions.
The world’s second largest economy now has a progressive left lawyer, with no central bank experience running the world’s 2 largest central bank. legarde is also a follower of John Maynard Keynes who advocated for increased government spending and lower taxes to stimulate economy activity, especially during times of economic hardship.
Translation: crank up the printing press baby!
Legarde: “The lesson of John Maynard Keynes’ book, ‘The Economic Consequences of the Peace’ (1919) was that solidarity is self-interest. That lesson still holds true today, and that is why it is my contribution to the Library of Peace at the Paris Peace Forum”
What could go wrong?
Thanks Vason for sending this in