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G-20 Clash Over Recovery Risks ’Sub-Potential’ Growth (Update1) - Bloomberg.com
At a meeting of Group of 20 finance chiefs in Busan, South Korea, June 4-5, Treasury Secretary Timothy F. Geithner said the world cannot again bank on the cash-strapped U.S. consumer to drive growth and urged other nations to stimulate their own demand. European Central Bank President Jean-Claude Trichet said fiscal tightening in “old industrialized economies” would aid the expansion by shoring up investor confidence.

Each strategy carries threats for the global rebound that the G-20 said faces “significant challenges.” Continued stimulus risks bondholder revolt over rising debt burdens, while spending cutbacks could worsen unemployment. Relying on exports leaves the world prone to trade wars and competitive currency devaluations as countries seek to give their companies an edge.

Each strategy carries threats for the global rebound that the G-20 said faces “significant challenges.” Continued stimulus risks bondholder revolt over rising debt burdens, while spending cutbacks coul
G20  june  fiscal  monetary  policy  greatrecession  tobin-tax  banking  recession  2010  recovery  demand  growth  Europe  timgeithner  germany  USA  PIIGS  austerity  capital  liquidity  basel2  export  exports  currency  currencies  euro  yen  dollar  yuan  protectionism  economics 
june 2010 by asterisk2a

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