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The 63-year old French woman has led the IMF since 2011 (Photo: World Economic Forum)

Rich EU states should spend more, Lagarde says

Wealthy EU nations should spend more to help central banks protect the economy, the likely next head of the European Central Bank (ECB) has said.

"I'm not a fairy", Christine Lagarde said on the limitations of what the ECB can do in Brussels on Wednesday (4 September).

"Central banks are not the only game in town," she also told MEPs on the economic affairs committee.

A "majority of countries in the euro area" had "the the capacity to use the fiscal space available to the...

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