Skip to main content
Part of complete coverage on

IMF head: Euro crisis 'everyone's problem'

January 28, 2012 -- Updated 1446 GMT (2246 HKT)
  • IMF head Christine Lagarde says the eurozone crisis will hurt other regions
  • She says the solution rests with Europe, but the rest of the world should help
  • Progress must continue or the future looks "very uncertain and very dangerous"

(CNN) -- IMF head Christine Lagarde says no country will be safe from the eurozone crisis if action is not taken soon.

Speaking with CNN's Richard Quest at the World Economic Forum in Davos, Lagarde, the managing director of the International Monetary Fund, said the crisis was already impacting economies far beyond Europe.

"There is no country in the world that I visited in the last eight weeks, and I visited many, that hasn't said the eurozone crisis is not a problem for me, for my economy, for my country, for my growth," she said. "Everybody has an interest in trying to fix the problems of the eurozone."

While the solution rested with European leaders, the rest of the world should do whatever was required to help them solve the crisis.

"The Europeans have to help themselves, but the international community has to be on their side because it's in the international community's interest, and in each country's interest, that the situation be remedied promptly and comprehensively."

She said that with international pressure building to address the crisis, there had been encouraging signs that leaders were ready to take action.

"I believe that while there has been improvement of the situation, because Italy has done more and better, because Spain is doing more and better," she said.

"But there shouldn't be complacency. There should be an urge to continue doing what needs to be done. Otherwise, the future looks very uncertain and very dangerous."

Part of complete coverage on
January 27, 2012 -- Updated 1841 GMT (0241 HKT)
IMF Managing Director Christine Lagarde says no country is safe from the eurozone crisis if action isn't taken soon.
January 27, 2012 -- Updated 1200 GMT (2000 HKT)
Publicis CEO Maurice Levy insists he has the support of many fellow CEOs and bankers over calls for the rich to contribute more.
With profits strong, the banking bonus culture is back -- to the annoyance of several leaders at the WEF at Davos, including British PM David Cameron.
January 27, 2012 -- Updated 1058 GMT (1858 HKT)
Rusal CEO Oleg Deripaska, one of Russia's richest men, discusses whether Russia should continue to help Europe.
CNN's Richard Quest asks why the world had to wait so long for a sense of urgency from EU leaders dealing with the region's crisis.
January 26, 2012 -- Updated 2131 GMT (0531 HKT)
Jamie Dimon, CEO of JPMorgan Chase, says the EU economic crisis is a complex "bump in the road" that can be resolved.
January 26, 2012 -- Updated 1842 GMT (0242 HKT)
World Bank President Robert Zoellick has warned that the eurozone crisis could have a dire effect on emerging markets if it continues in 2012.
January 26, 2012 -- Updated 2010 GMT (0410 HKT)
British Prime Minister David Cameron tells CNN's Richard Quest that spending could unravel hard-won work.
January 26, 2012 -- Updated 1422 GMT (2222 HKT)
An Occupy WEF protestor builds an igloo to protest against against the World Economic Forum (WEF) on January 23, 2012 in the Swiss Alpine resort of Davos.
There are signs that despite the icy temperatures, relations between Occupy and the World Economic Forum may be thawing.
January 22, 2013 -- Updated 1133 GMT (1933 HKT)
How much does it cost to join the world's elite in Davos? CNN discovers spending up to $40,000 is actually rather easy.