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Christine Lagarde

IMF backs Osborne's strategy – but warns tax cuts may be needed

The International Monetary Fund yesterday delivered a powerful endorsement of the Chancellor's strategy to reduce government borrowing – but warned that ministers may need to cut taxes and the Bank of England will have to inject more money into he economy if "major risks materialise". This is the nearest that any international body has come to suggesting a "Plan B" may be needed. The level of unemployment in Britain is, the IMF added, "unacceptable", and it also pointed to inflation and the fragility of the banks as "significant risks".

Dominique Strauss-Kahn quits IMF over charges

Dominique Strauss-Kahn, who has been widely praised for his leadership of the Intentional Monetary Fund and its involvement in solving Europe's woes, resigned today to devote "all his energy" to fighting sexual assault charges in New York.

It's time to grow up, advisers tell Sarkozy

Almost four years after taking office, President Nicolas Sarkozy has decided to become the President of France. That is to say, he has been instructed by his advisers that his hopes of re-election next spring will increase enormously if he acts in a more "presidential" manner.

More headlines

Sarkozy steps into France's Anelka row

The president of France, Nicolas Sarkozy, has asked his sports minister Roselyne Bachelot to meet with the key people involved in the bitter national team row which has wrecked their World Cup chances.

The Sketch: There's one thing we can teach the French: 'results-based'

There is no word for "grandeur" in English. That's what we're up against over here. They have Versailles, we have Buckingham Palace. They have the Louvre, we have the National Gallery. They have the Elysée Palace, we have Downing Street. They have Christine Lagarde, we have (to cheat a bit) Vince Cable.