IMF chief warns of new Great Depression

International Monetary Fund (IMF) chief Christine Lagarde has warned the Great Depression of the 1930s may repeat itself unless the EU pulls together and gets foreign help. Fresh unemployment statistics added to the gloom by highlighting the social cost of austerity.

“If the international community does not work together, the risk from an economic point of view is that of retraction, rising protectionism, isolation. This is exactly the description of what happened in the Thirties and wh...