Monday, 18 February 2013

Swans in denial

...are not graceful...when is Treasurer Swan and the team running the Oz economy going to tune out of their cognitive dissonance?

...In a forceful intervention near the end of the conference Mr Swan said much of the talk about "so-called currency wars" was "completely misguided". It "unhelpfully reduced the focus on the G20's critical agenda to boost growth and create jobs".
What other finance ministers thought of as intervention to devalue currencies was more often the byproduct of completely appropriate moves to try and kick-start economies, he said...
...Earlier he had told Bloomberg television the yen's devaluation was ''a matter for the market''. The Japanese approach was "to stimulate their domestic economy. That is also good for the global economy.''... (here)

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