Sunday, June 27, 2010

Geithner Begs G20 Leaders Not To Start Balancing Their Budgets



http://www.businessinsider.com/geither-tells-g20-need-more-stimulus-2010-6#ixzz0s5C4G3zf
At the G20 this weekend, Europe and Japan are being warned not to cut back on economic stimulus, by Timothy Geithner.

BBC:

Emergency assistance that G20 leaders agreed on at previous summits at the height of the economic crisis must not be withdrawn too soon, he said.

"We're going to avoid that mistake by making sure that we recognize that it's only been a year since the world economy stopped collapsing," he said.

It's a sign of disapproval for Europe's current austerity impetus. Mr. Geithner described a decent global recovery at the forum, but one which needed more economic expansion within Europe and Japan's domestic economies in the near term.

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