I.M.F. Urges U.S. and Europe to Act Decisively on Debt – NYTimes.com

Asia drives the world economy and the portent of the US failing to get its own house in order challenges a global revival:

In a communiqué at the end of a three-day meeting here in Tokyo, the members of the International Monetary Fund warned that global growth was slowing as the persistent debt crises in developed countries dragged down growth in emerging markets. The statement said quick action was needed to “break negative feedback loops and restore the global economy to a path of strong, sustainable and balanced growth.”

“There was no objection to the recommendation that we gave to the membership, which was a-c-t,” said the I.M.F. head, Christine Lagarde, spelling out the word for dramatic emphasis.

via I.M.F. Urges U.S. and Europe to Act Decisively on Debt – NYTimes.com.


One thought on “I.M.F. Urges U.S. and Europe to Act Decisively on Debt – NYTimes.com”

  1. Recent Wall Street Journal articles have suggested that we are heading for another world financial crisis if we don’t take care of our current financial deficits. The IMF has aimed most of its attention towards the United States and the European Union. As our economies have become more global, the acts of strong economic countries – particularly domestic policy – have been the shaping influence the global economy. With the Global Recession of 2008, we saw how the misuse and under-regulation of derivatives along with the American housing bubble lead to worldwide recession. This is the time to act. Our domestic policies shape the world economy; we cannot be sluggish in the execution of budget cutting and the savvy use of our country’s resources. http://online.wsj.com/article/SB10000872396390444799904578053891848637154.html

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