07/26/2011 04:22 pm ET | Updated Sep 25, 2011

Christine Lagarde, IMF Chief, Discusses Eurozone Debt, Organization's Shifting Role (VIDEO)

The International Monetary Fund's newly-appointed chief sat down for an exclusive Reuters interview to discuss growing concerns over U.S. and Eurozone debt as well as the shifting role of her organization.

Christine Lagarde, who stepped into her new role after Dominique Strauss-Kahn's resignation in May, says that "fiscal consolidation needs to take place" both in the U.S. and elsewhere around the world. "The IMF is extremely relevant in times of crisis," she notes. "It has to constantly enhance its services...its ability to serve the membership."

Watch Lagarde's Reuters interview, courtesy of the Council on Foreign Relations, below: