It could also lead to a disorderly default on the government's debt, with unpredictable repercussions for the euro monetary union, despite the country's tiny economy.
A profound, global transfer of capital from publicly traded companies to privately held companies is taking place with huge and still unknown repercussions in everything from monetary policy to public policy.
Worse still, chances are high that this monetary policy gaffe will have serious inflationary repercussions for years to come.
From the household point of view, avoiding a child death may have several social and familial repercussions apart from the direct monetary savings related to health care that are very difficult to estimate.
It resulted in an embargo on the export of gold from Canada and monetary difficulties in the Argentine, while its financial repercussions were painfully felt in every monetary centre.
"In a more equitable world order, it is only appropriate that the developed countries - in pursuing their fiscal and monetary policies - should take into account the repercussions on the economy of emerging countries," he said.
Many who provided monetary support for imprisoned WikiLeaks source Bradley Manning faced no repercussions, but it's unclear how the government would treat this situation.
Through peer-to-peer file sharing networks, social media, and online forums, we trade an incredible amount of information, often with no concrete monetary gain — and even in the face of possible legal repercussions for the sharing of intellectual property.
"Right now, these risks appear under control," Ms. Lagarde said, but she urged emerging economies to increase their defenses to deal with possible repercussions when the Federal Reserve and other central banks start to cut back their monetary stimulus.
While it is certainly the case that any move toward more integrated markets will have political repercussions that may best be handled through preemptive measures, policy coordination is not necessary for monetary integration.
Politically, the repercussions won't be felt until after this year's elections, as the full impact of a monetary mistake isn't experienced for 12 to 18 months.
