SBS Dateline | Interview with Christine Lagarde

Is Europe on the brink of economic implosion? With the Eurozone ‘pigs’ – Portugal, Ireland, Greece and Spain – grappling with economic instability, Dateline’s George Negus talks with France’s Finance Minister, Christine Lagarde, about the precarious state of Europe’s economy.

Lagarde, ranked by Forbes magazine as one of the most powerful women on earth, and voted Europe’s Finance Minister of the Year by the Financial Times, takes a hard line.

She tells Negus that excess is to blame for the Global Financial Crisis, and that it could happen again. She warns that banks will never do business in the same way again, and that she has hope that countries traditionally opposed to banking regulation will see the light.

She is tough on Greece, a country she says has lied and deceived the European community over its financial problems. Yet she gives the strongest indication so far that the ‘Eurozone’ stands ready to bail Greece out, once it shows commitment to change.

And she proposes that the way forward is backwards – no more hubris, no more making money for the sake of making money – but that sensible and balanced policies is the way to go.

Watch George’s interview with her, as broadcast on Dateline, or click here for an extended version.

You can also watch George's Travelogue about his experiences filming in France and look at a behind the scenes photo gallery of George in Paris.

Photo (Euro notes): AAP