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Lagarde Sees Darker Clouds Over World Economy After G-7 Summit

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WEB Notes: The clouds of uncertainty continue to move in.

IMF Managing Director Christine Lagarde said the risks to the global economy are rising as major industrial nations sharpen threats of a trade war.

“The clouds on the horizon that we have signaled about six months ago are getting darker by the day — and, I was going to say, by the weekend,” Lagarde said at a news conference in Berlin on Monday.

Her remarks follow a chaotic two-day meeting of the Group of Seven in which President Donald Trump shocked fellow leaders with his disregard for U.S. allies. After leaving the summit early, Trump tweeted he was pulling U.S. support from a joint statement and he accused the host, Canadian Prime Minister Justin Trudeau, of being weak and dishonest.

Source: G-7 Summit: Lagarde Sees Darker Clouds Over World Economy After G-7 Summit – Bloomberg Quint

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1 Comment

  1. Trudeau reminds me of a humanist socialist coming against the wasp. Maybe some of us are tired of suckling along and supporting some of these Countries that have taken in too much socialism (govt leaven), so that they have to shear another. Thatcher said it correctly and I’ll paraphrase—socialism eventually runs out of other people’s money. I think we should no longer enable it.

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