![]() |
– |
‘Clueless’ – the German verdict on US policy for recovery Germany’s finance Minister yesterday launched a remarkably frank attack on the US, branding the country’s economic policy « clueless ». Wolfgang Schäuble was joined in his criticism by the Chinese, who said they were « owed an explanation » for the Federal Reserve’s decision on Wednesday to renew its programme of quantitative easing with $600bn of new money. Mr Schäuble, whose government has presided over a strong rebound in the German economy while calling for European nations to rein back on their budget deficits, said he did not believe the QE initiative would be successful in kickstarting the American recovery, as the Fed hopes. « They have already pumped endless amounts of money into the economy with extremely high budget deficits, and with a monetary policy which has already pumped in lots of money, » Mr Schäuble said. « The results have been hopeless. With all due respect, [the] US policy is clueless. » |
Wolgang Schäuble est définitivement meilleur ministre des finances qu’à l’intérieur, où il était surnommé « Stasi 2.0 » pour son support envers des législations du style Patriot Act.
Par ailleurs, on s’attendait à un affontement Merkel/Obama au G20. Le Spiegel va avoir de grosse pé-peine 😛
Le QE2 de Ben Bernanke sera l’équivalent du Smoot–Hawley.
Le monde à l’envers: une loi protectionniste proposée par les Républicains et dénoncée par Roosevelt.
Ce devait être à ça que Charest pensait quand il a parlé du danger d’une recrudescence du protectionnisme du nouveau Congrès!