Personal Liberty Digest™ will be upgraded this weekend to reflect a dynamic new look and mobile-friendly viewing to enhance your experience! Plus, we'll be providing even more of the compelling content you've come to expect, delivered in a whole new way!

  Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Lagarde’s Speech Challenged In Europe

BRUSSELS, Aug. 29 (UPI) — A high-profile speech by the new director of the International Monetary Fund was met by a call for clarity, a bank official said.

The Financial Times reported Monday that European officials “rounded on” Christine Lagarde after a speech she made in Jackson Hole, Wyo., Saturday.

Lagarde cited an “urgent” need for banks to increase their capital reserves to protect themselves in event of a downturn.

Lagarde said there were “chains of contagion” across the European banking system.

But an unnamed bank official said funding was the “key issue.”

“Banks in some countries have had trouble securing liquidity in recent weeks and that pressure is going to mount,” the official said.

“To talk about capital is a confused message. Everybody — politicians, regulators, other officials, is quite concerned.”

Lagarde hinted during the weekend that the $638.3 billion European Financial Stability Fund could be put to use to recapitalize banks.

Officials, however, said support for liquidity would be more useful.

“The idea that we could have a liquidity problem in Europe (is) plain wrong,” Jean-Claude Trichet, president of the European Central Bank, said in a separate speech.

Liquidity refers to the ease in which a given asset can be sold.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Lagarde’s Speech Challenged In Europe”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.