Lagarde says current euro austerity not excessive

(ANSA) - Paris, September 8 - International Monetary Fund (IMF) chief Christine Lagarde said Monday that the current austerity policy in the euro area is not "excessive".
    In an interview published in Les Echos, a French business daily newspaper, Lagarde said that European nations must also continue to cut public spending.
    "You cannot talk about excessive austerity policy in the euro area...we must keep the pace in the reduction of public spending," she said in the interview.
    Structural reforms are also important, and low inflation is no excuse to delay change, she said "Even if inflation is weaker than usual, it cannot be used as a screen to put off the necessary efforts on spending," Lagarde said.