The IMF is playing a key role in tackling the European debt contagion which is threatening to derail the global economic growth prospects. Earlier in the day, Lagarde told delegates at the WEF that no one is immune to the European crisis and urged the region`s leaders to create firewall to contain the turmoil. "No one is immune in the current situation... It is a crisis that could have co-lateral effect, spilover effect around the world. Everybody has an interest to solve this situation," she said.
The International Monetary Fund (IMF) sees three necessary solution to the current situation. "The first one is about growth. Growth will be critical for many reasons to deal with the job issue, to deal with the fiscal consolidation and to necessitate value creation in the part of the world, where there is pretty much zero growth," Lagarde said.