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EU, U.S. and IMF Clash over the European Economy and the Euro in Davos

Posted January 23, 2015

Under Economic Issues, International Trade Issues

(MercoPress)

Europeans, including IMF chief and Americans clashed on Thursday in Davos during a debate on monetary stimulus that degenerated into a skirmish over the European Union economy and the Euro.

“There is a general expectation to compare the U.S. economy and the Euro area and I don't think that's a reality,” Christine Lagarde, IMF Managing Director said after an onslaught from her largely American co-panelists, including the CEO of megabank Goldman Sachs.

Hand-wringing over the fate of a wobbly Europe has become a Davos tradition, ever since debt-wracked Greece threatened to destroy the Euro zone in 2010. This year was no different, especially with Greek elections set for Sunday and the European Central Bank's decision to unleash a massive bond-buying scheme worth 60 billion Euros despite resistance from the bloc's most powerful member, Germany. Click here to read more.