Welfare state at risk unless Europe halts decline in growth, says Lagarde

Lagarde warns of 'serious consequences' if growth continues to slow

The welfare state is at risk unless Europe halts the decline in growth, the president of the European Central Bank (ECB) has warned.

Christine Lagarde said that the slowdown in growth is putting pressure on public finances and making it more difficult to fund social welfare programs.

She said that if growth does not pick up, there could be "serious consequences" for the welfare state.

Lagarde calls for 'urgent action'

Lagarde called for "urgent action" to boost growth in Europe.

She said that governments need to implement reforms to increase productivity and competitiveness.

She also said that the ECB is prepared to do more to support growth, if necessary.

Lagarde's comments come as the ECB prepares to make a decision on interest rates

Lagarde's comments come as the ECB prepares to make a decision on interest rates.

The ECB is widely expected to keep interest rates on hold at its meeting on Thursday.

However, Lagarde's comments suggest that the ECB is becoming increasingly concerned about the slowdown in growth.

The welfare state is a key part of the European social model

The welfare state is a key part of the European social model.

It provides a range of social benefits, such as healthcare, education, and unemployment benefits.

The welfare state has been under pressure in recent years due to the financial crisis and the rising cost of healthcare.

The decline in growth is putting pressure on the welfare state

The decline in growth is putting pressure on the welfare state.

Governments are finding it more difficult to fund social welfare programs as tax revenues decline.

This is leading to cuts in social benefits and an increase in poverty.

Lagarde's warning is a wake-up call for Europe

Lagarde's warning is a wake-up call for Europe.

The welfare state is a key part of the European social model, and it is at risk if growth does not pick up.

Governments need to take action to boost growth and protect the welfare state.