Lagarde, the debt crisis is not just a European one

The debt crisis is not unique to Europe, but is a wider problem mainly due to strong capital flows. This is the opinion of Christine Lagarde, director general (newly appointed) of the International Monetary Fund (IMF). “If you look at the 2011 and 2012 growth estimates, you clearly see a big recovery, but things are improving compared to the 2009 situation at the height of the crisis,” explained Lagarde. You then underlined that "the global recovery is uneven and there are imbalances with emerging economies growing faster than advanced economies". The IMF board will discuss the situation in Greece on Friday and evaluate the possible distribution of the fifth tranche of the loan granted last year