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Christine Lagarde

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  • Schaeuble and Lagarde Clash Over Austerity Friday, 12 Oct 2012 | 6:32 AM ET
    Schaeuble and Lagarde Clash Over Austerity

    High-level splits over the handling of the euro zone crisis burst into the open on Thursday when Germany’s finance minister rebuked the head of the International Monetary Fund after she warned that EU leaders should ease demands for tighter austerity in peripheral economies. The FT reports.

  • IMF Behind the Curve on Europe: ESM’s Regling Friday, 12 Oct 2012 | 5:35 AM ET
    Klaus Regling, managing director, ESM

    The International Monetary Fund has not given European policymakers “enough credit” for the progress made in restoring stability to the single-currency bloc, the head of the European Stability Mechanism said Friday.

  • *Germany gives no ground on question of Greece. TOKYO, Oct 12- Germany held firm on Friday in insisting it was too soon to say Greece deserved more time to meet its budget-cutting goals even as the head of the IMF laid out the case for leniency.

  • *Says risk of deflation greater than inflation* But ECB's priority is price stability over growth* Says ECB will only buy bonds if its conditions met.

  • PRESS DIGEST - Wall Street Journal - Oct 12 Friday, 12 Oct 2012 | 2:18 AM ET

    is in talks to buy a significant stake in Sprint Nextel Corp, the ailing U.S. wireless carrier said. A deal would offer a multibillion-dollar lifeline that could help Sprint finance future mergers of its own and better compete with its much bigger and richer rivals.

  • IMF, World Bank chiefs urge focus on fair growth Thursday, 11 Oct 2012 | 11:41 PM ET

    TOKYO-- Sacrificing growth for the sake of austerity could put the entire world economy in jeopardy, the head of the International Monetary Fund told global financial leaders Friday, calling for medium-term work to bring down debt levels and urgent action to get the unemployed back to work.

  • *Europe wants more focus on U.S. fiscal woes* Germany: Europe is not the source of all problems* Mixed reviews on IMF call for slower budget cuts. TOKYO, Oct 12- Greece, Spain and the euro zone's slow progress toward debt reform took centre stage at IMF meetings on Friday despite Europe's best effort to remove itself from the spotlight.

  • TOKYO, Oct 12- Greece, Spain and the euro zone's slow progress toward debt reform take centre stage at IMF meetings on Friday despite Europe's best effort to remove itself from the spotlight.

  • Coeure: ECB will not bow to market pressure-paper Thursday, 11 Oct 2012 | 6:28 PM ET

    FRANKFURT, Oct 10- The European Central Bank will not cave in to market pressure and buy bonds of euro zone governments whose borrowing costs have reached unsustainable levels if the country does not comply to the ECB's rules, Executive Board member Benoit Coeure said.

  • TORONTO, Oct 11- Canada's main stock index rose slightly on Thursday, recovering from three days of losses that culminated in a five-week low, encouraged by U.S. employment data and comments from the IMF that were seen as supporting stability in the euro zone.

  • Market flatlines, pulled by jobless claims, Europe Thursday, 11 Oct 2012 | 4:30 PM ET

    The Dow Jones industrial average rose as much as 83 points, shrugging off a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. "There's not a lot to move the market today," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank in San Francisco. "

  • *Greece's biggest company CCH quits for Switzerland. that it was switching its primary listing from Athens to London and moving its corporate base to stable, low-tax Switzerland is a bitter blow to the debt-crippled nation.

  • CANADA STOCKS-TSX rises on U.S. data, IMF chief's remarks Thursday, 11 Oct 2012 | 10:56 AM ET

    TORONTO, Oct 11- Canada's main stock index rose on Thursday after encouraging U.S. employment data and comments from the IMF that were seen were seen supporting stability in the euro zone. rose 1.7 percent to C $41.22, Canadian Natural Resources. 1 percent to C $30.09 and Teck Resources.

  • UPDATE 4-Rating cut piles pressure on Spain to seek aid Thursday, 11 Oct 2012 | 10:40 AM ET

    *Spain banks' dependence on ECB continues. *Econ Sec says Spain still considering aid request. MADRID, Oct 11- Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid on Thursday after a credit agency cut its rating for the government's debt to near junk.

  • Greece's biggest firm leaves, jobless rate soars Thursday, 11 Oct 2012 | 10:39 AM ET

    *Greece's biggest company, bottler CCH, quits for Switzerland. ATHENS, Oct 11- Greece's jobless rate topped 25 percent and its biggest company said it would quit the country on Thursday in a fresh blow to an economy that German experts warned cannot be "saved" without writing off more debt.

  • Stocks head higher, despite Europe worries Thursday, 11 Oct 2012 | 10:04 AM ET

    NEW YORK-- One piece of good news on jobs was enough Thursday on Wall Street. That one piece of good news was enough to help traders forget about a drumbeat of worrisome developments, like a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. `.

  • BEIJING/ TOKYO, Oct 11- China's foreign minister on Thursday defended the withdrawal of its senior delegates from the International Monetary Fund meeting in Tokyo as "completely appropriate" although the head of the multilateral organisation said they would "lose out".

  • UPDATE 3-Rating cut piles pressure on Spain to seek aid Thursday, 11 Oct 2012 | 8:03 AM ET

    *Spain banks' dependence on ECB continues. *Econ Sec says Spain still considering aid request. MADRID, Oct 11- Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid on Thursday after a credit agency cut its rating to near junk, triggering a spike in its borrowing costs.

  • Spanish bailout dilemma sharpens Thursday, 11 Oct 2012 | 7:45 AM ET

    Though S&P's warning may nudge the Spanish government to make a bailout request sooner rather than later, rival agency Moody's has indicated it may cut its rating for Spain in the event of a bailout request. "It would appear that when it comes to the rating Spain is a bit between a rock and a hard place," said Gary Jenkins, managing director of Swordfish Research.

  • UPDATE 2-Rating cut piles pressure on Spain to seek aid Thursday, 11 Oct 2012 | 6:10 AM ET

    *Spain banks' dependence on ECB continues. *Econ Sec says Spain still considering aid request. MADRID, Oct 11- Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid on Thursday after a credit agency cut its rating to near junk, triggering a spike in its borrowing costs.