Lagarde Warns European Economy Faces ‘2008-Style Crisis’ Without ‘Coordinated’ Government Action’

(From Zerohedge)

Lagarde said Europe risks a major economic shock on par with the global financial crisis if its leaders fail to act, and signaled that the central bank will follow the Fed and BoE with a monetary policy bombshell of its own on Thursday, when it delivers its latest decision on interest rates and policy following the conclusion of its two-day policy meeting.

During a conference call with European Union leaders late Tuesday, Lagarde reportedly said that without coordinated action Europe “will see a scenario that will remind many of us of the 2008 Great Financial Crisis,” according to a source familiar with what was said on the call.

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