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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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To: koan who wrote (37365)8/28/2011 1:36:21 PM
From: ggersh  Read Replies (1) of 119360
 
Before you get ornery make sure the banks get the money,
it's always the recurring theme. -nfg-

Lagarde said the Group of 20 leading economies should use a meeting in November to address the global economy's woes in a convincing fashion, and she used her speech -- her first major policy address since taking the helm at the IMF in July -- to open a new front in dealing with strains at European banks.

She called for a "mandatory substantial recapitalization," through private channels if possible, but otherwise through some form of public, Europe-wide funding, such as the European Financial Stability Facility.

Lagarde also warned advanced economies away from tightening their belts so fast that it imperils recovery.
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