G8 leaders on Saturday vowed to “strengthen and reinvigorate” their economies while pointedly “recognising” that each country might pursue different policy paths in a statement that reflected the enduring split between proponents of greater stimulus or austerity.
Issued against the background of eurozone turmoil and a weak US recovery, the joint statement said: “We commit to take all necessary steps to strengthen and reinvigorate our economies and combat financial stresses, recognizing that the right measures are not the same for each of us.”
“We welcome the ongoing discussion in Europe on how to generate growth, while maintaining a firm commitment to implement fiscal consolidation to be assessed on a structural basis,” it said
Barack Obama and David Cameron met on Saturday morning in the gym of the US president’s country retreat and agreed that European institutions such as the European Central Bank needed to do more to boost the bloc’s faltering economy.
Mr Cameron said afterwards: “Why meetings like this matter is that eurozone countries can hear from countries outside the Eurozone … whose economies are affected: obviously Britain, but also America, Japan, Canada.
“It’s very important these messages get across, and I would say there is a growing sense of urgency that action needs to be taken, contingency plans need to be put in place.”
They have received support from Mario Monti, the Italian prime minister who was on Saturday morning leading the discussions on the global economy.
In an interview with CNN to be broadcast on Sunday morning, Mr Monti said: “We link back to the notion of demand … I think we should regard it more positively than the most conservative European authorities do.”
But reflecting German resistance to authorise monetary easing from the ECB, Mr Monti added: “On the other hand, if it is an across-the-board crusade for more demand, then I believe that the German reluctance to that is not entirely unfounded.”
"How can I know what I think until I read what I write?" – Henry James
There are a few lone voices willing to utter heresy. I am an avid follower of Ilusion Monetaria, a blog by ex-Bank of Spain economist (and monetarist) Miguel Navascues here.
Dr Navascues calls a spade a spade. He exhorts Spain to break free of EMU oppression immediately. (Ambrose Evans-Pritchard)
sábado, 19 de mayo de 2012
G-8. Comunicado. Split.
El G-8 nos condena. En su comunicado oficial se ve la firme división, y como se pliegan a Merkel los líderes europeos, como Monti. Todos agarrados por las pelotas, menos Cameron, el unico que puede decir lo que piensa. Un ejemplo de para que sirve no haber entradomen el p---o euro. Subrayo lo mas significativo.
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2 comentarios:
Vaya chicharrazo de Falcao...cuanto dais por el?
Soghy, no understand. Prefiero Drogba.
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