This post originally appeared on the blog of the Peterson Institute for International Economics
A letter to Christine Lagarde, Managing Director of the International Monetary Fund (IMF)
Dear Madame Lagarde,
Europe is in deep trouble, possibly on the verge of catastrophe, and as a consequence so might be the world. You represent that world and you need to act quickly and decisively, and I am afraid somewhat solitarily. You need to quickly mobilize international resources to help address the problem in Europe, which in turn would help minimize the risks to the rest of the world.