Christine Lagarde managing director of the International Monetary Fund (IMF) sees no alternative to the strict austerity policies being imposed on many peripheral European countries says the double dip recessions in Italy and Ireland just announced come as no surprise and notes that IMF reforms will shift 6% of current quotas to dynamic emerging and developing countries. Lagarde’s comments came in an exclusive interview with Knowledge at Wharton and media partner ParisTech Review late last week as BRIC countries demanded more voting power in return for the larger financial contributions being requested by the IMF. (Podcast with transcript)
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