‘More to be done’ IMF's Lagarde admits she’s ‘worried’ about European populist backlash
INTERNATIONAL Monetary Fund (IMF) chief Christine Lagarde has revealed she is “worried” about the upcoming elections in Europe that could signal a rise in populist leaders.
Christine Lagarde admits she is 'worried' over EU elections
Germany, France and the Netherlands are due to hold elections this year, fuelling uncertainty regarding the future of the European Union (EU).
Following the Brexit vote and Donald Trump’s shock victory in the US elections, international leaders are bracing themselves amid concerns of a rise in populism across the Brussels bloc.
Now Ms Lagarde has highlighted her concerns over the looming elections and the effect they could have on the organisation.
Geert Wilders and Marine le Pen will fight for election this year
Christine Lagarde highlighted her concerns over the looming elections
Marine Le Pen promised to take France out of the eurozone
She said: "I am worried, as we all are, about the outcome of some of these elections.”
However the former French minister of finance under president Nicolas Sarkozy, who was recently found guilty of negligence for approving a massive payout of taxpayers’ money to controversial French businessman Bernard Tapie, did not elaborate on her concerns.
Marine Le Pen, who has promised to take France out of the eurozone, is attracting support before presidential elections, while far-right politician Geert Wilders is riding high in Dutch opinion polls.
I am worried, as we all are, about the outcome of some of these elections
And Chancellor Angela Merkel's conservatives are facing a tough challenge in German elections.
But despite her concerns over the rising tide of populism, Ms Lagarde also insisted the eurozone was making progress in resolving its economic problems.
The 61-year-old defended the European Union amid claims the bloc was failing to tackle big issues such as a failing eurozone, saying Ireland, Portugal and Cyprus had all recovered from crises.
Election hopeful Geert Wilders slams ‘TOTALITARIAN’ EU
Chancellor Angela Merkel's conservatives are facing a tough challenge in Germany
But she added: "More to be done. More to be done. No question about that."
And she said the IMF was watching the administration of President Donald Trump closely to re-evaluate the Dodd Frank financial reform law, which was put in place to reduce risk on Wall Street after the global financial crisis.
Ms Lagarde said: ”When it comes to the financial stability, to the ability to supervise, to the strength of those institutions with due accountability - I think it's critically important for the mission that the IMF has, which is financial stability around the world."