| 00:00:10 |
Unidentified Speaker, -
DIRECTOR CHRISTINE LAGARDE SAID AMERICA'S ECONOMY REMAINS TEPID AND FACES MAJOR DOWNSIDE RISKS. THE EUROPEAN DEBT CRISIS AND CUTS IN FEDERAL SPENDING...
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| 00:00:39 |
Unidentified Speaker, -
IMF. WELCOME TO THIS PRESS BRIEFING WHICH, AS YOU KNOW, IS ON THE 2012 U.S. ARTICLE IV CONSULTATION. TODAY WE'LL BE HEARING FROM THE MANAGING DIRECTER,...
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| 00:01:49 |
Unidentified Speaker, -
JUST TO GIVE YOU A BIT OF BACKGROUND ABOUT WHAT IS IN ARTICLE IV, T REALLY A REVIEW OF THE PARTICULAR ECONOMY. IN THE CASE OF THE UNITED STATES, IT...
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| 00:11:03 |
Unidentified Speaker, -
U.S. LET ME START OVER ON THIS SIDE OF THE HOUSE, AND WE'LL SWING AROUND. YES, SIR, WITH THE GLASSES. >> THANKS. HOWARD SCHNEIDER WITH "THE WASHINGTON...
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| 00:11:17 |
Unidentified Speaker, -
TO YOUR LEFT. >> OH, THERE YOU ARE. >> NOT IDEALOGICALLY NECESSARILY. [LAUGHTER] HAVE TO BE AGNOSTIC ON THAT. TWO THINGS REAL QUICK. ONE, ON A BROAD...
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| 00:11:28 |
Unidentified Speaker, -
KNOW, YOU MENTIONED HERE THAT COUNTRIES NEED TO -- THAT SYSTEMIC COUNTRIES NEED TO LOOK MULTILATERALLY AT WHAT THEY'RE DOING, AND I'M WONDERING GIVEN...
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| 00:12:22 |
Unidentified Speaker, -
THE FIRST ONE, WE DO TEND TO -- THAT IS BECOMING ALMOST THE BREAD AND BUTTER OF THE FUND. AND AS I MENTIONED EARLIER ON, CLEARLY TOO STRONG A CONTRACTION...
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| 00:15:43 |
Unidentified Speaker, -
AND I AM WITH CHINA'S 21ST CENTURY BUSINESS
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| 00:15:47 |
Unidentified Speaker, -
HERALD. I HAVE TWO QUESTIONS. THE FIRST ONE IS, BOTH OF THEM ARE ABOUT U.S. THE FIRST ONE IS THAT RECENTLY THERE'S A BOOK COMING OUT FROM THE PETERSON...
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| 00:17:07 |
Unidentified Speaker, -
JULY, YOU KNOW, WHEN THERE WAS THIS RAGING DEBATE ANT THE DEBT CEILING -- ABOUT THE DEBT CEILING? AND I WAS ASKED BY ONE OF YOUR COLLEAGUES, YOU KNOW,...
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| 00:19:12 |
Unidentified Speaker, -
JONES. JUST HOUSEKEEPING, YOU TALKED ABOUT A SMALL DEFICIT REDUCTION
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| 00:19:19 |
Unidentified Speaker, -
OF 1% GDP. YOU'RE TALKING ABOUT FOR JUST NEXT YEAR, CORRECT? >> 2013. >> OKAY. I JUST WANTED TO -- >> I MEAN, ARTICLE IV IS REALLY FOCUSED ON 2012-2013....
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| 00:19:32 |
Unidentified Speaker, -
BE THAT GOING FORWARD. WE THINK THAT 1% REDUCTION
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| 00:19:35 |
Unidentified Speaker, -
IS SENSIBLE AND SHOULD BE CONTINUED FOR A LONGER PERIOD OF TIME. >> YEP. >> BUT IN TERMS OF PREDICAMENT -- >> I ASSUMED SO, BUT I JUST WANTED TO --...
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| 00:19:47 |
Unidentified Speaker, -
SUBSTANTIVELY, CAN YOU, YOU QUANTIFIED THE POTENTIAL IMPACT OF EVEN THE THREAT OF DELAYING A DECISION ON FISCAL REDUCTION AND DEBT CEILING. CAN YOU...
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| 00:19:51 |
Unidentified Speaker, -
MANAGEMENT EDITS? >> YOU KNOW, TO ACTUALLY QUANTIFY A THREAT IS A JOB. YOU HAVE TO BE AN ACTUARY, AND EVENTUALLY YOU SUCCEED AS
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| 00:20:44 |
Unidentified Speaker, -
AN INSURER. THE IMF IS NOT EXACTLY IN THAT BIDS, BUT WE TRY -- IN THAT BUSINESS, BUT WE TRY TO IDENTIFY AND WE TRY TO ANALYZE REMEDIES AND MAKE RELATIONS...
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| 00:25:02 |
Unidentified Speaker, -
A LADY IF THERE IS ONE TO HAVE A QUESTION JUST TO
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| 00:25:06 |
Unidentified Speaker, -
BE EVEN-HANDED. BUT IF NOT, LET ME TAKE THIS GENTLEMAN. >> THANK YOU. I'M FROM CHINA MEDIA. JUST A FOLLOW-UP QUESTION. COULD YOU EXPLAIN A LITTLE
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| 00:25:19 |
Unidentified Speaker, -
BIT ABOUT IMF -- [INAUDIBLE] U.S. FINANCIAL UNION'S COMPOSURE TO THE DEBT CRISIS, WHAT KIND OF SCENARIOS YOU HAVE USED? >> FIRST OF ALL, ON THE U.S....
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| 00:25:40 |
Unidentified Speaker, -
VERY WELL RESTRUCTURED, MEETING THE BAZ EL 2-- BASEL 2.5 CRITERIAS, THEREFORE, THE CAPITAL ISSUES ARE MET, AND WE HAVE SEEN SINCE 2010, IF I RECALL,...
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| 00:26:26 |
Unidentified Speaker, -
FOLLOW UP ON THE -- I WANTED TO FOLLOW UP ON THE VERY FIRST QUESTION YOU HAD
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| 00:26:30 |
Unidentified Speaker, -
ABOUT THE MULTILATERAL -- [INAUDIBLE] YOU DO MENTION A NUMBER OF POTENTIAL SPILLOVERS IN THE PAPERS INCLUDING, FOR INSTANCE, THE POTENTIAL CHALLENGES...
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| 00:27:45 |
Unidentified Speaker, -
OBSERVE VERY CAREFULLY, VERY ATTENTIVELY THE MOVEMENT OF CAPITAL FLOWS IN AND OUT. AND, OBVIOUSLY, WE'VE SEEN IN THE LAST FOUR YEARS SOME SIGNIFICANT...
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| 00:29:49 |
Unidentified Speaker, -
FOR YOU, ONE IS ON THE LABOR MARKET. YOU MENTIONED
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| 00:29:53 |
Unidentified Speaker, -
THAT YOU ARE OF THE VIEW THAT MUCH OF THE UNEMPLOYMENT PROBLEM IS MOSTLY CYCLICAL. I WAS JUST WONDERING, WOULD YOU HAVE SORT OF LIKE A FOCUS ON WHAT...
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| 00:30:42 |
Unidentified Speaker, -
MEASURE TO ADDRESS A SICK HI CALL ISSUE IS TO ACTUALLY ENCOURAGE GROWTH, SUPPORT THE GROWTH AND MAKE SURE THAT IT DOESN'T STAY TEPID FOR TOO LONG BECAUSE...
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| 00:33:05 |
Unidentified Speaker, -
FROM GREECE. MADAM LAGARDE, HOW DOES THE
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| 00:33:10 |
Unidentified Speaker, -
SITUATION IN GREECE EFFECT THE UNITED STATES AND THE GLOBAL ECONOMY GIVEN THAT GREECE HAS A NEW PRIME MINISTER WHO IS SAID TO BE LOOKING FOR CHANGES TO...
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| 00:33:42 |
Unidentified Speaker, -
STATES. [LAUGHTER] CYPRESS. WELL, I'M CERTAIN THAT THE U.S. ECONOMY WOULD BENEFIT FROM A MORE STABLE AND BETTER, UNITED EUROZONE IN ALL RESPECTS. AND...
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| 00:35:22 |
Unidentified Speaker, -
YOU. [INAUDIBLE CONVERSATIONS] >>
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.