Crisis, Lagarde too "votes" for austerity: "There is no alternative"

"There is no alternative to austerity." This was stated by the director general of the IMF, Christine Lagarde, during an interview with Swiss TV station Rts. "The situation is difficult", acknowledged Lagarde, adding that at the same time it is necessary to pursue "budgetary discipline and favor the elements of growth" in order to promote "investments and employment". "Going back to making budget deficits" is not an option to be taken into consideration, underlined the number one of the IMF.