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We have avoided derailment of recovery process in Europe: Christine Lagarde

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The International Monetary Fund or IMF is keen to implement quota reforms, which will give more voting rights to the under-represented nations, and proposal on that has been ratified by India and China. "Change is in the air", Christine Lagarde, managing director at IMF told reporters in Delhi. In an interview with NDTV's Vikram Chandra, she said that the European crisis was less acute but not behind us. Lagarde is concerned about rising oil prices, India's high fiscal deficit and infrastructure bottlenecks and US debt.