IMF managing director, Christine Lagarde, has urged the world's economies to take stronger action to boost growth. In her speech at Germany's Goethe University in Frankfurt -- Lagarde described the global economy as "too weak and too fragile."

She said the world economy is out of crisis -- but national governments must accelerate structural reforms and increase fiscal support to avoid growing economic risks.  And for the first time, Lagarde urged specific policy actions.

She proposed the US raise its minimum wage, the E-U provide better job training, and emerging economies spend more on social welfare programs.