France's Lagarde says will do more on economy if needed

LONDON (Reuters) - French Economy Minister Christine Lagarde said on Monday more action would be taken to stimulate economic activity if current stimulus efforts did not work.

Policymakers, ahead of a G20 financial crisis summit in London on Thursday, are under growing pressure to take further action to stave off a prolonged downturn.

"Europe certainly has done what it should at this point, we need to make sure it actually works," Lagarde told Channel 4 News. "If we need to do more, we'll do more in due course. The key purpose we have is to execute."

British business minister Peter Mandelson agreed with Lagarde but said any future British stimulus measures should be carefully targeted.

Lagarde said currencies would not feature on the G20 agenda this week.

"The whole issue of currencies is not really discussed at this point in time and my belief is that we will have to include a discussion on currencies, not on the second of April, but ... later on."

(Reporting by Matt Falloon, Editing by Stefano Ambrogi)