Davos Summit Ends with Warnings on Global Economy

By: AP Email
By: AP Email

DAVOS, Switzerland (AP) - The crisis mood is gone, but that doesn't mean you can slip back into your old ways. That was the message from the head of the International Monetary Fund and other top international financial officials as they wrapped at the World Economic Forum in Davos, Switzerland, today.

IMF chief Christine Lagarde urged world leaders to "not relax," saying a global economic recovery is "fragile and timid" and dependent on officials in Europe, the U.S. and Japan making "the right decisions."

Lagarde said Saturday that the 17 European Union countries that use the euro have to follow through on steps to keep the troubles at banks from burdening governments.

And she said U.S. officials have to "indicate very promptly" how they're going to deal with their ongoing budget dispute between President Barack Obama and Republicans in Congress.

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