Europe Faces Lost Generation as Inequality Mounts, Lagarde Warns


The incomes of young people have recovered after dropping when many lost their jobs following the financial crisis, according to the IMF. Still, youth incomes haven’t grown compared with pre-crisis levels, whereas the incomes of those 65 or older have risen 10 percent since their pensions were protected, Lagarde said in a blog post-Wednesday.

Working-age people, and especially the young, are falling behind,” she said. “Without action, a generation may never be able to recover.” Read more here→