IMF head is asking indebted countries to reduce deficit slowly.
“Christine Lagarde said in a speech in Zurich that steep cuts tend to slow an economy, particularly if a nation is already suffering from weak growth.”
French President-in-waiting, Francois Hollande, is going to put France on a new course.
“Europe is watching us, austerity can no longer be the only option,” he (Hollande) said.
“There will be no loosening of the deficit targets,” one high-level German source said.
So Doc, what is it gonna be?
