September 15, 2011
International Monetary Fund chief Christine Lagarde has warned that a "vicious circle is gaining momentum" in Europe and the US that could wreck attempts at a recovery and undermine rescue operations for Greece and other indebted EU countries.
She said "political dysfunction" was feeding policy indecision in a "dangerous new phase of the crisis" that could make a delicate situation harder to resolve.
Her comments, most of which were directed at eurozone's chief policymakers, came as the world's major central banks agreed to provide unlimited dollars to European banks to prevent a rerun of the Lehman Brothers collapse three years ago.
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