IMF's Lagarde says euro crisis not solved, demands pre-emptive action from ECB

``"Can a crisis really be over when 12pc of the labor force is without a job? When unemployment among the youth is in very high double digits, reaching more than 50pc in Greece and Spain?" she said... [and] the ECB "must act preemptively to stall further declines in inflation", and called on it to "find ways" to steer cheaper credit to small and medium-sized firms, hinting at some variant of the Bank of England's Funding for Lending scheme. Loans to Italian private firms fell 4.9pc in October.''