The G20 And Deficit Reduction

The G8 and G20 summits of financial leders running simultaneously in Toronto are both revealing deep divisions among governments about how quickly publid spending deficits should be reduced. This has caused uncertainty in financial market jover the past few days, with the American “broow and spend” economists of the Obama administration warning that reducing deficits too quickly will push the economies of developed nations into the double dip recession governments have feared.

Leading European economies, particularly the Germans, are emphasising the need to curb government spending, and it is a possibility a G20 communique at the end of the conference will set out a timetable for how far and fast countries should retrench spending.

Read full article: G20 20 Divided On Deficit Reduction by John De Roe at The Daily Stirrer

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2 thoughts on “The G20 And Deficit Reduction

  1. Easy: Dump Greece, Spain and Portugal and tell them to catch more fish, make more Olive oil and breed more pigs.

    Seriously, the G20 needs to be like a blind dater: I’ll hold your hand once and if you don’t come up with the goods, we’ll tell you that the pot at the end of the rainbow is empty.

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  2. The G20 is just a talking shop, the G8 did nothing and by the law of diminishing returns the G20 will do even less.

    Wouldn’t mind getting on one of their junkets however, the fod and wine are excellent I hear.

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