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Lagarde: EU must let the muscles to play

The EU is, despite all the crises, an important Institution, says IMF Boss Lagarde in daily show -Interview. You should not allow, therefore, your muscles play to international rules and standards to enforce.

tagesschau.de: Our multilateral institutions are under pressure, the rule-based world trading system. How can you convey to the citizens, that these institutions for the benefit of you and not projects of elites for elites?

Christine Lagarde : Us the Concerns of all the people to go to something, we need to take this seriously. We need to focus on, to provide answers, for example, to questions such as: What is the Benefit we bring to the people? We deliver the right answers to their questions, and how we can serve your purposes? It is not a matter of one's own belly button, but about what we can do for others.

tagesschau.de: they demand of the EU, you need to take more care of growth and prosperity in the southern countries of Europe - what exactly are you asking for?

Lagarde: The project for a European Union inspired a lot of new members, for example, if we look to Central and Eastern Europe. Alone, the goal is to be a member of the EU has given these countries the power and the drive for reforms, for an improvement in their financial Situation. Also, the disposable income in these countries has increased enormously. This approximation of the circumstances of life between poorer and richer countries, we call convergence.

Portugal, Spain, Italy, Greece and Cyprus - the countries that were particularly affected by the crisis, take advantage of this convergence. Of course these countries have their own responsibility, but the European Union must focus more on you and the people there hope that your life situation improves.

The head of the ARD capital studios, Tina Hassel (R) met with Lagarde on the sidelines of the security conference.

Two major reforms

tagesschau.de: But what is your specific advice to the situation in the southern European countries is changing rapidly and sustainably for the Better?

Lagarde: , I propose the following things: first of all, only the private sector can make investments and jobs in these regions. Some reforms are necessary. The first of these is the flexibility, so that companies have incentives to hire new employees because they do not know that they are stuck in a Strait-jacket. A country such as Portugal has shown that it actually works.

The second area in which much needs to be done is, as I like to call it, the Business-friendliness of countries. There are countries in southern Europe - the example of Greece - where a bankruptcy lasts nine times longer than in Ireland. Such procedures need to be accelerated. There are countries, which have demonstrated that - like for example Portugal. If you know as a young entrepreneur in Lisbon, that you can set up your company in five days in a month, this is a clear encouragement that things are actually for the Better.

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