Rolf Englund IntCom internetional
Twelve months ago as Lehmans collapsed, people all over the world were staring into the abyss
It would, I believe, be an error of historic proportions if we were to repeat the mistakes of the 1930s
Twelve months ago as Lehmans collapsed, people all over the world were staring into the abyss of a collapsing banking system, and the domino effect of this across the world’s capitals. It is true to say that people feared for their savings as bank after bank threatened to fall.
Even six months ago, people were still talking about the real possibility of a great depression like the 1930s.
The risks still very much remain. All countries have moved swiftly to support domestic demand through fiscal and monetary policy - in total G20 countries will inject 5 trillion dollars into their economies through fiscal expansion
First - making the recovery sustainable means avoiding unsustainable imbalances between countries.
World growth has been driven by consumers in the US and other deficit countries.
To help ensure there is a smooth transition path to what one might call the mature phase of globalisation we need the world now to come together with careful and co-ordinated action.
Både penningpolitiken och finanspolitiken bör vara expansiv under både 2009 och 2010.
– I valrörelsen står arbetslinjen mot bidragslinjen, var Fredrik Reinfeldts slutord till moderatstämman 2009.