john lipsky as you knows the firsmanaging director. he will be completing his term on the 31st of august and he has been throughout his term a fantastic first deputy managing director. i was able to see that from a distance from where i was as if shareholder, client and a member of the firm. i represented france on many instances and other seminars and i can tell you john has been a fantastic advocate, spokesperson, personal charisma and joy in the last two weeks. .. wherever you always turn, wherever you are located, whatever your articles will be, there are issues, there are concerns, and and when we look at the status of the world, we have clearly come over the financial crisis that hit all economies in the fall of 2008 anwhich continue troughout at least one to 2,009 in some countries well into 2010 and saw my or do it is cntinuing given the growth potential has not been restored in many countries and that unemployment is still very high in many corners and therefore a lot nes to be done by the economy players. now obviously recove

john lipsky as you knows the first managing director.he will be completing his term on the 31st of august and he has been throughout his term a fantastic first deputy managing director. i was able to see that from a distance from where i was as if shareholder, client and a member of the firm. i represented france on many instances and other seminars and i can tell you john has been a fantastic advocate, spokesperson, personal charisma and joy in the last two weeks. .. wherever you always turn, wherever you are located, whatever your articles will be, there are issues, there are concerns, and and when we look at the status of the world, we have clearly come over the financial crisis that hit all economies in the fall of 2008 and which continue throughout at least one to 2,009 in some countries well into 2010 and saw my or do it is continuing given the growth potential has not been restored in many countries and that unemployment is still very high in many corners and therefore a lot needs to be done by the economy players. now obviously r

we also have the first deputy managing director, john lipsky. i wanted to let you know that we have simultaneous translation. english is on channel one. french is on channel 2. arabic is on channel 4. you all have headphones. we have some microphones. it would be helpful if he would move up to ask questions. we have three microphones in the room. it works better if you go to the microphone. madam lagarde will begin with opening remarks and we will take your questions. >> thank you very much. good morning to all. it is nice to be back in washington. going from washington to paris and to chicago to paris and back to washington. it is lovely to be back. i thank you for being here for this first press conference. i will ask for your indulgence. i will concentrate on a little bit of the state of the world as i see it at the moment. i take this j

i would like to thank the man sitting to my right, john lipsky. as you know, he is the first deputy managing director. he will be completing his term on the 31st of august and has been throughout his term a fantastic first deputy managing director. i was able to see that from a distance, from where i was, as clearly a shareholder, a client and a member of the firm, representing france on many instances, fora, and other seminars. i can tell you that john has been a fantastic advocate, spokesperson, person of substance, as well, and a person of charisma and joy in the last few weeks. he has been a critical addition. .. in opening these remarks, i would like to say so publicly and with great friendship to him. you might be surprised that i'm here so soon after my election. i thought it was necessary to come back to d.c. very promptly, simply because there are many issues that need to be addressed. those issues cannot wait for yet another summer holiday. so, here i am, and, for good. in terms of issues, as we see them, as you see them, as you describe