1 September 2011


Chatham House


These are transcripts of speeches made by Christine Lagarde, Managing Director, International Monetary Fund, and George Osborne MP, Chancellor of the Exchequer, UK, on 9 September at Chatham House.

The Chancellor reiterated that the government would stick to its fiscal consolidation plan, arguing that it ensures stability for the UK in an environment of global economic uncertainty. Under these circumstances, Ms Lagarde said that the policy prescription for each country must be different. She argued that the UK's policy remains appropriate, but that the government must maintain a readiness to respond appropriately if the country appears to be heading for an extended period of high unemployment and weak growth.

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