Earlier this year, we had the European Union, which, with more generous unemployment benefits, was already “stimulating” the economy, tell the United States and new President Barack Obama it would not run a deficit “stimulus spending package” like that he planned.
Why? Inflation worries, among other things.
And now, that the industrialized world seems to be hitting bottom, we face a new round of G8 discussion, and disagreements, on an “exit strategy.”
And, within countries, too; reportedly, Federal Reserve Chairman Ben Bernanke is ready to start working on that exit now, while Treasury Secretary Tim Geithner ain’t so sure of that idea.
Meanwhile, the member EU states have different stress tests from one another, run by their national governments and not the EU or the European Central Bank.
So, recovery could be uneven and differently times.
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