you called it a circle and there is a circular argument about it because in fact many economists particularly american economists are saying that europe is lagarde some of them amanpour many of the prominent ones are saying that europe is in fact going around it the wrong way that in fact it needs more stimulus to provide more growth and then to attack deficits from a period from the position of strength why wont europe do that lagarde because if i look at my numbers which is better than you know theories and and and speculations if i look at my numbers weve stimulated the french economy massively in the year 2009 end of 2008 2009 and my numbers are now going up ive got growth up 16 percent from negative 26 percent ive got unemployment down from 96 percent down to 93 percent and ive got deficits down as well from 82 percent where we thought it would be down to 77 percent so the numbers are good unemployment is going down why would i inject more public money into the system when private investment is picking up amanpour and there are tens of millions of people out of work all over the world right now they seem to be having to pay for the excesses of the bankers the billionaires the speculators how can you have fiscal discipline and make it fair lagarde we make it fair by two ways number one we have a volume of shock absorbers if you wish that help the least privileged and the poorest in the country where unemployment benefits welfare and so on and so forth actually help them go through difficult times that has worked well in 2009 we continue to sustain and support those programs because its needed the second thing that we did and that was decided in sweden in the uk in germany and in france were going to impose a systemic tax on banks for instance our banks had to borrow from the state they have refunded most of them and the state which means our taxpayers have made a profit in the process amanpour there is a new film thats coming out this weekend here in the united states called inside job you were interviewed for that film and you were asked about the collapse of lehman brothers begin video clip unknown when were you first told that lehman in fact was going to go bankrupt lagarde oh after the fact unknown after the fact lagarde yes unknown wow ok and what was your reaction when you learned of it lagarde holy cow end video clip amanpour so let me ask you what is there to prevent another holy cow moment do you believe that the right kind of of regulation against this this potential disaster is in place across the board now lagarde i should hope so we amanpour but is it lagarde weve been