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IMF President: Financial Markets Exaggerate Fears About The Euro Zone Crisis

2011/9/24 10:28:00 23

Christine Lagarde, President of the International Monetary Fund (IMF), said on Thursday that the financial market was against Christine.

Eurozone

The sovereign debt crisis has been overstated.

Lagarde said in an interview today: "for the time being, a lot of anxiety and panic in the market have been overestimated."

"I want analysts to focus on the facts behind budget, economic conditions and policies," she said.

She also said at a news conference earlier today,

Finance

The market has ignored the "very bold" measures adopted by many EU countries to ease the sovereign debt crisis.

Lagarde pointed out: "many countries in the eurozone have taken very bold measures to solve their deficit problems, and the market has largely ignored them."

She also said that her job is not appeasing the market. "I don't think I can placate or create anxieties. That's not my business."

Before Lagarde made such remarks, global stock markets suffered heavy selling, mainly due to the pessimism of the market and the monetary policy statement issued by the Federal Reserve on Wednesday.

In addition, the decline of the stock market also reflects the market's worries about the financial health of major European banks.

In the latest deal in the New York market, the Dow Jones Industrial Average fell more than 400 points.

Lagarde also said that the global economic recovery process is still on a "narrow road".

She called for a joint effort to tackle the sovereign debt crisis in the eurozone, similar to the measures launched by European Union officials in the autumn of 2008, when the collapse of Lehman brothers, the fourth largest investment banks in the United States, led to a global financial crisis and a recession cycle.

She also pointed out that international

currency

The fund's policy is not based on the Dow Jones index, the Nasdaq composite index, the CAC index or the DAX index, that is, the benchmark index of the US, France and Germany stock markets.

At the annual meeting of the International Monetary Fund, Mohammed, El and Erian, chief executive officer and chief investment officer of 8.16,0.49,6.39% investment management company (PIMCO), said he was "worried and scared" to the global economic outlook to some extent in the "Mohamed" El-Erian.

He compares the global economy to a car that runs on rough roads, and the destination of the car is uncertain, and there are few spare wheels.