Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-07-05-Speech-3-293"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20060705.19.3-293"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
".
Mr President, the exchange rate has changed recently, but the Council is not planning any measures which would compel the United States to prop up the value of its currency. In a statement which the President of the ECOFIN Council gave at the spring meeting of the IMF’s International Monetary and Financial Committee, he reiterated the Council’s position on global imbalances, saying that in the medium term the enormous current account imbalances cannot be sustained and it is the combined responsibility of all the major players involved to address the problem. Within the context of international cooperation, a macroeconomic and structural policy that aims to maintain growth should be practised to facilitate due rectification of current account deficits and surpluses. This way increases in protectionist pressures could be avoided as could sudden fluctuations in exchange rates and risks to the finance industry. There are also possible macroeconomic risks that stem from protectionist measures and unilateral action. An open, multilateral system of trade is an essential prerequisite for greater continued growth. Increased national saving in the United States and domestic growth in Asian countries, in particular, are crucial in any attempt to correct global imbalance.
The communiqué in April 2006 of the International Monetary and Financial Committee echoed this view, which partners at global level generally accepted."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples