IMF chief warns of return to depression
IMF chief Christine Lagarde addressing the Women In Public Service event at the Department of State December 15, 2011 in Washington, DC. Lagarde said another depression was not out of the question.
"The world economic outlook at the moment is not particularly rosy. It is quite gloomy," IMF chief Christine Lagarde told an audience in Washington last night.
It was a remarkably doom laden speech in which she noted current trends like protectionism, echoed "what happened in the 1930s." She also reiterated her view that the euro zone crisis was a crisis for the world to work together to solve. It has the potential to bring the global economy to a crashing halt and bring on another Great Depression.
Some video of the speech is here.
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