Lagarde Vows Neutrality Toward Europe as She Seeks Top IMF Job

French Finance Minister Christine Lagarde, vying for the leadership of the International Monetary Fund, pledged to be impartial toward European nations seeking aid and to give emerging economies greater influence.

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Source: BusinessWeek

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Eight banks fail the European Banking Authority Stress Tests
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Nicholas Perna is the economic adviser to Webster Financial Corp. and chief economist and managing director of the consulting firm Perna Associates. He is also a visiting lecturer at Yale University.