ANOTHER EUROPEAN FINANCIAL CRASH IS INEVITABLE!!!
The head of the International Monetary Fund (IMF), Christine Lagarde, has described the possibility of another European financial crash as inevitable, calling on governments to agree on a "rainy-day" fund to protect the community from downturn.
In her opinion, the European Union leaders need more trust, more accountability, and they must also strengthen three things: the capital market, the banking union, and the creation of a central capacity which would tell the world that they are together and will tackle the next crisis with the rainy-day fund."
Concerning the rainy-day fund, Eurozone countries would contribute to the rainy-day fund each year, building up assets when times are good, that they could draw from in an economic downturn or recession.
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| Christine Lagarde of the IMF |
In her opinion, the European Union leaders need more trust, more accountability, and they must also strengthen three things: the capital market, the banking union, and the creation of a central capacity which would tell the world that they are together and will tackle the next crisis with the rainy-day fund."
Concerning the rainy-day fund, Eurozone countries would contribute to the rainy-day fund each year, building up assets when times are good, that they could draw from in an economic downturn or recession.
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