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IMF's Lagarde calls for collective action

IMF's Lagarde calls for collective action (by Steve Goldstein)

WASHINGTON (MarketWatch) -- International Monetary Fund Managing Director Christine Lagarde, addressing the annual meeting plenary session, called Friday for "collective, rapid action" on the fiscal, financial and structural fronts or else risk "losing the battle for growth." She said dark clouds are over Europe and there's huge uncertainty in the United States, and while the primary responsibility to handle them lies with advanced economies, "nobody should be under the illusion of decoupling."