EU’s problem can easily be resolved by widespread reform and money


Some Group of Seven nations raised the possibility of extra fiscal measures if the global recovery weakens, Canadian Finance Minister Jim Flaherty said after a G-7 meeting in Tokyo yesterday.
“There has been some discussion by some of the participants along those lines, generally relating to the European situation,” Flaherty said on a conference call with reporters today. “The continent is in recession and there’s rising unemployment.”

Europe’s woes are at the center of this week’s meetings of the World Bank and International Monetary Fund in Tokyo as finance chiefs work to sustain a flagging global recovery. The Washington-based lender said this week that failure to remedy them was helping to generate an “alarmingly high” risk of a steeper slowdown.
Flaherty also said it’s worth considering proposals by IMF Managing Director Christine Lagarde to give Greece and other troubled European countries more time to meet fiscal targets.
“I think it’s certainly worth considering,” Flaherty said. “The challenge in Europe now is the European economy is in a recession and there is some interest in trying to create some economic growth in the euro zone.”
To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net
To contact the editor responsible for this story: Chris Anstey at canstey@bloomberg.net
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There must be widespread reforms in EU, or the allocation of cash and fundings will quickly be drained off from the financial system, the chicken or the egg, it is therefore imperative for Germany to set the direction, to decide when to implement the chicken or the egg.
– Contributed by Oogle. 

Author: Gilbert Tan TS

IT expert with more than 20 years experience in Multiple OS, Security, Data & Internet , Interests include AI and Big Data, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader. I am capable of finding any answers in the world you want as long as there are reports available online for me to do my own research to bring you closest to all the unsolved mysteries in this world, because I can find all the paths to the Truth, and what the Future holds. All I need is to observe, test and probe to research on anything I want, what you need to do will take months to achieve, all I need is a few hours.​

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