Europe to urge exit from stimulus schemes at G20: Merkel

[Ed Barrow]

Source: Reuters

Europe will push for a swift exit from fiscal stimulus programs and a focus on budget consolidation at the G20 meeting next week, German Chancellor Angela Merkel said on Saturday.

"European participants are of the opinion that this is urgently necessary to prevent such crises from happening again in the future," Merkel said in her weekly podcast.

Leaders of the 20 biggest developed and developing economies meet on June 26-27 in Toronto, Canada.

Merkel's stance contrasted with that of U.S. President Barack Obama, who this week said public finance problems should be addressed "in the medium term" -- a warning that clamping down budgets should not be done at the expense of recovery.



Read more: http://www.reuters.com/article/idUSTRE65I1D720100619

[Davis_X_Machina]

1. Let me fix that...

"European participants are of the opinion that this is urgently necessary to prevent guarantee such crises from happening again in the future next year," Merkel said in her weekly podcast.

In politics being wrong just like everyone else is far less dangerous than being right all by yourself.

[SILVER__FOX52]

2. With lessons of the Great Depression....

How can this be the case?? These are supposed to be smart people that are advised by smart people. So, What the hell is going on???