IMF chief says world back from financial ‘abyss’

[Playinghardball]

Source: Raw Story

IMF chief Christine Lagarde said Tuesday the global economy has moved back from the “abyss” but that there are still serious weakness in the world financial system.

Lagarde, visiting New Delhi for a two-day trip to attend a conference and meet leaders, said the world financial situation is not as grave as at the start of this year.

“We are further away from the abyss than we were three months ago,” the International Monetary Fund (IMF) managing director told a panel discussion.

Lagarde said steps by the European Central Bank and some European countries had helped stabilise the overall situation but there were still areas “that need to be attacked with vigour”, such as shoring up financial institutions.


Read more: http://www.rawstory.com/rs/2012/03/20/imf-chief-says-world-back-from-financial-abyss/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story%29

[rfranklin]

1. They have propped up the edifice but it is not storm proof...

Nothing has changed.

[kickysnana]

2. Nope, they put a rickety ledge onto the crumbling cliff over the abyss and said Voila, it is fixed.

[izquierdista]

3. One abyss down....

plenty more to go hurtling at.

[closeupready]

4. I do not believe her.

And there are many who argue that the IMF is a neo-colonialist institution - that it was founded to serve the existing power structure and simply to help make the rich richer.

Naturally, as chief of that institution, she is going to argue that the measures taken to safeguard 'crony capitalism' are effective and 'working'. She's hardly going to promote government regulation intended to help lift those at the bottom.

[Javaman]

5. just because one gains their balance on the razors edge...

doesn't take away the fact that they are still on the razors edge.

just more hard clapping from the IMF.

[zipplewrath]

7. I think they'd agree

I don't think they would particularly disagree with your change in the metaphore. They acknowledge continuing weakness. Really, adding to your metaphore, we aren't hanging by our fingers anymore, we're balanced on our feet. That may be "better" but it's hardly "comforting".

[Larry Ogg]

6. We paid the proper ransom so...

I guess everyone can eat, drink, and be marry until after the elections.

The truth is that as long as there is Economic Royalty, the financial abyss for the working class will never really go away.

[PoliticAverse]

8. What - all the bankers have been bailed out ? n/t

[sendero]

9. No it isn't.

... it has just been delayed a few months or years.