To my friends at the ILO: congratulations on your centennial! For a hundred years now, you have served the noble cause of social partnership and social justice. When you think about it, the founding of the ILO has a lot in common with the founding of the IMF. You were founded after the First World War, on the premise that lasting peace is founded on social justice. We were founded after the Second World War, on the premise that lasting peace is founded on economic cooperation between nations. You bring together the social partners in the service of ensuring decent work for all—knowing that decent work is not only about a paycheck, but is also a source of meaning, purpose, and dignity. We bring together the nations of the world—189 of them—in the service of promoting financial stability and sustainable and inclusive economic growth—knowing that this is a precondition for true human flourishing. In this context, my topic this afternoon—social spending—could not be more relevant. Relevant to both of our institutions. -- Christine Lagarde, Forging a stronger social contract—the IMF’s approach to social spending, 14 June 2019
Christine Lagarde
Posted by Isabelle le 2019-06-30
This is not a new insight. The importance of providing financial security to citizens to keep the peace and foster harmonious social relations is a lesson that goes all the way back to the ancient civilizations. It is a lesson learned during the industrial revolution, as politicians responded to new social and political challenges with different forms of social protection—think of the Bismarckian reforms in Germany. It is a lesson learned after the darkest days of the 1930s (…) And it is a lesson learned in the postwar era, when the three decades of strong and shared growth in the advanced economies— les trente glorieuses—were underpinned by an accompanying social contract with broad participation and widespread social and political support. What this tells us is that for economies to be resilient and growth to be sustainable, this growth needs to be inclusive—which calls for social spending. This in turn provides the social and political buy-in for growth-supporting policies—and in doing so, builds trust. -- Christine Lagarde, Forging a stronger social contract—the IMF’s approach to social spending, 14 June 2019.
Christine Lagarde
Posted by Isabelle le 2019-06-30
Over the past three decades, integration has been the driver of Central, Eastern, and Southeastern European economies’ (CESEE) rapid economic growth and acceleration that helped dramatically raise living standards. And the region’s success has, in turn, fueled the success of the EU more broadly. Now you may have noticed that I chose my words carefully this morning. Driver. Acceleration. Fuel. It is not because I am thinking about attending the Formula One German Grand Prix next month. No, it is because the CESEE economies are like a powerful engine, one that is about to be put to the test. -- Christine Lagarde, Strengthening the economic engine: prosperity and resilience of CESEE economies in a changing trade landscape, June 12, 2019.
Christine Lagarde
Posted by Isabelle le 2019-06-30
Thank you to the woman who hired me as a “baby lawyer” at Baker McKenzie. She, too, was an incredible role model, and she taught me three things: how to “dress”, “address,” and “redress.” And I have not forgotten any of those three. -- Christine Lagarde, Distinguished Leadership Award, Atlantic Council, 30 April 2019.
Christine Lagarde
Posted by Isabelle le 2019-06-02
Last October, before we held our Annual Meetings in Bali, Indonesia, I delivered a speech in Washington (…). In that speech, I quoted an American poet who said the following: “To reach a port, we must sail sometimes with the wind and sometimes against it—but we must sail, and not drift, nor lie at anchor.” To summarize, I said: We need to steer the boat, not drift! Preparing my visit to your country, I thought again about that quote. Why? Because I believe Portugal knows a thing or two about steering ships through dangerous and unchartered waters. You have been doing precisely that over the last few years, with remarkable success. -- Christine Lagarde, Portugal and the Global Economy: The Way Forward, 1 March 2019
Christine Lagarde
Posted by Isabelle le 2019-03-24
I would be remiss if I did not wish all of you a happy Valentine’s Day. I hope that your idea of a romantic evening is filled with conversation on the benefits of economic convergence. Because that is what you will get this evening. There is another milestone we should celebrate tonight. As you all know, 2019 marks the 30th anniversary of the fall of the Berlin Wall. I wanted to ask a question about this anniversary. Was the fall of the Berlin Wall a beginning, an end, or a middle? Think about it. -- Christine Lagarde, A Commitment to Shared Prosperity: The Next Chapter of Unity in Europe, Keynote Speech — Munich European Conference, February 14, 2019.
Christine Lagarde
Posted by Isabelle le 2019-02-24
There is another milestone we should celebrate tonight. As you all know, 2019 marks the 30th anniversary of the fall of the Berlin Wall. I wanted to ask a question about this anniversary. Was the fall of the Berlin Wall a beginning, an end, or a middle? Think about it. (and, echoing this opening, here is the closing) So, let us return to my original question. Was the fall of the Berlin Wall a beginning, a middle, or an end? I would argue it was all three. It was a time of new hope, a culmination of a thirty years of work, and it was also a challenge to rebuild. The same is true of this moment in Europe. It is a time that requires courage and creativity. -- Christine Lagarde, A Commitment to Shared Prosperity: The Next Chapter of Unity in Europe, Keynote Speech — Munich European Conference, February 14, 2019.
Christine Lagarde
Posted by Isabelle le 2019-02-24
Tonight, I have quoted from the French and the Germans. In the spirit of unity, let me close with a quote from the British. It was Churchill, who said, “This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” If the European Union draws on its roots and finds a way forward through shared prosperity, I believe we will look back at 2019 as the start of an optimistic new chapter in the European story. -- Christine Lagarde, A Commitment to Shared Prosperity: The Next Chapter of Unity in Europe, Keynote Speech — Munich European Conference, February 14, 2019.
Christine Lagarde
Posted by Isabelle le 2019-02-24
So what I would like to do is to identify three key questions. My first question: is the economy strong? The answer to that is: yes, the economy is strong at the moment. But here is the real question: is the economy strong enough? To that, our answer is: probably not enough, because (…) My second question: is the economy safe enough? The bottom line is this: ten years after the global financial crisis, we are safer, and measures have been taken, but we are not safe enough (…) My third question: are the benefits of growth shared enough? The answer to that is: the benefits of stronger growth are not shared enough for our global economy to continue to grow in a sustainable way. -- Christine Lagarde, Annual Meetings Press Conference, 11 October 2018
Christine Lagarde
Posted by Isabelle le 2018-11-03
My key message today is that we need to manage the risks, step up reforms, and modernize the multilateral system. Or, to put it in shipping terms, we need to steer the boat, not drift! (…) When we sail together, we are stronger, nimbler, better able to steer the ship through rough waters and avoid the rocks of shipwreck. So now, as we set sail on our Voyage to Indonesia, let us work together—so we can steer our economies in the right direction and bring all people whether on big or small boats to a new and better port. -- Christine Lagarde, 'Steer, Don't Drift': Managing Rising Risks to Keep the Global Economy on Course, 1 October 2018
Christine Lagarde
Posted by Isabelle le 2018-11-03
So, yes, we are seeing some sun break through — but it is not a clear sky. There are two ways to approach a moment like this. The first is to sit back, enjoy the progress, and wait for the next crisis before making big changes. As a former finance minister, I understand the appeal of this path. Championing change just when things are getting back on track is not easy — especially when the benefits come further down the road and policymakers already feel reform fatigue. -- Christine Lagarde, A time to repair the roof, 4 October 2017.
Christine Lagarde
Posted by Isabelle le 2017-11-05
Thirteen years ago, on this campus, a young man invented a social media platform that would connect the world. But the next Mark Zuckerberg need not come from Harvard. With the right investments in education, she can come from the south side of Chicago, or Sri Lanka, or Senegal. -- Christine Lagarde, A time to repair the roof, 4 October 2017.
Christine Lagarde
Posted by Isabelle le 2017-11-05
Clearly, what Europeans need right now is more time to watch football (…) Tomorrow most of you will be focusing on the game. But if you look at the players — and the clubs they play for — you will see a reflection of Europe, a manifestation of Unity in Diversity. -- Christine Lagarde, Unity in Diversity: The Case for Europe, 17 June 2016
Christine Lagarde
Posted by Isabelle le 2016-06-26
Whether you are from Milwaukee or from Mumbai, from Chicago or from Shanghai, from Paris or Panama City, … IMF Managing Director C. Lagarde, Commencement Address, 16 May 2015
Christine Lagarde
Posted by Isabelle le 2016-03-09
We’ve heard a lot about the internet of things. I think we need an internet of Woman. IMF Managing Director Christine Lagarde
Christine Lagarde
Posted by Isabelle le 2016-03-09