IMF chief Christine Lagarde is right to be worried about potential economic doomsday scenarios – but the Europe of 2011 is very different to that of the 1930s. Soup kitchens. Dole queues. Jarrow marches. Bank failures. Trade wars. Falling prices. Desperate poverty. Dust bowls. Fascism. The long descent into war. That was the 1930s, and it was the world conjured up by Christine Lagarde, the managing director of the International Monetary Fund on Thursday night. A failure of the international community to co-operate to sort out Europe's sovereign debt crisis risked, she said, "retraction, rising protectionism, ... (full story)