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This article was published on 23 January 2016 at 11:42.
The last change is the January 23, 2016 at 12:39.
The possibility of a Brexit, the output of Britain to the European Union, and the humanitarian crisis of refugees in the Middle East who are pressing at the gates of Europe which does not know how to respond, are “the two great concerns,” the IMF at this time. Says the director of the IMF Christine Lagarde at the Davos Economic Forum in Switzerland.
The crisis of migrants in Europe may threaten the survival of the Schengen area, it has supported Lagarde during a debate in the mountains of Switzerland. Even more clearly, he said, on the refugee crisis “is played survival” itself of the Schengen agreement on the free movement of persons and goods. “The refugee crisis, from my personal perspective, a little ‘or all or nothing,” he added. She was asked whether “all or nothing” covers the area of free movement of EU Schengen and she said yes. The director of the IMF has instead made an argument that goes in the opposite direction: the integration of migrants in Europe could have a positive impact on GDP in the order of 0.2% in Europe, was his estimate, “we must change way we look at the economy, there are many factors that we do not measure well, “he explained. While Lagarde talks in Switzerland, however, comes the news from Vienna that the Austrian Interior Minister Johanna Mikl-Leitner, threatens Greece with a “temporary exclusion” from the Schengen area of free movement if Athens does not further strengthen its border controls with the huge influx of migrants: the last episode of a nervousness emerged in recent weeks in many states of the Union.
George Osborne, the Chancellor of the Exchequer severe that participated in the same debate in Davos, has however reassured Lagarde on the other big concern – the referendum in 2017 in which Britain will decide whether to stay or not in the EU: “I am optimistic that we will have a good agreement between Great Britain and the European Union, perhaps already at the EU Council in February. And if it does, I’m confident “that will be avoided Brexit.
Lagarde, who recently announced his candidacy on French television for a second term at the helm of the IMF, has also talked about China : financial markets – he said – need more clarity about the way the Chinese authorities are managing their currency; the reference in particular to the relationship between the yuan and the dollar. Asked whether China should return to a control of capital for a period, Ms. Lagarde has avoided answering direttamwnte but said: “Certainly a massive use of reserves is not a particularly good idea … among other things is already it has been put into practice. ” “For years – he said – feel forecasts of a hard landing of the Chinese economy” that has not yet occurred. Now – thinks Lagarde – we see a more normal “transition to a more sustainable,” but with some rough time.
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