IMF head Christine Lagarde speaks in Berlin
- "Short-sighted siren call of protectionism" is a headwind threatening global growth
- Proposes Eurozone to set up a "rainy-day fund" to cushion from economic shocks
- A consequence of Brexit is that many financial services will likely move to continental Europe in the months ahead
- That will require enhanced regulation, upgraded oversight agreements in order to handle the potential influx
- Calls for a modernised capital markets union and improved banking union to develop Eurozone integration
- Also calls for more transparent EU bankruptcy laws
She's mainly touching on suggestions the IMF wants for the Eurozone and the other comments are just some flavour being added to the speech.
She also touched on the vulnerability of the Eurozone banking sector in her speech. Nothing really too significant.
