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Europe listens to Lew but may not act

Tuesday, April 09, 2013 - 02:19

April 9 - New U.S. Treasury Secretary Jack Lew has repeated that Europe should relax austerity measures and focus on growth. Joanna Partridge asks how much influence he has and if anyone is listening/

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Economic advice from an online. US Treasury Secretary to actually you held this press meeting with German finance minister potentially. Jordan his trip to you right. It is already met his French turn to pot and you beaches to discuss the U -- owned and debt crisis in its liking economy. And I -- it's affecting the US recovery. We have an immense stake in a strong and prosperous year. With that in mind minister should -- -- -- to discuss our common interest in strengthening global growth advancing the agenda for international regulatory reform. And creating additional opportunities for increased trade investment and job creation. We also discuss Europe's plans to move forward and banking union. Which is critical to ensuring the long term stability of the Euro area. He's been calling on European officials to relax and austerity measures and paid consultant friend. This is anyone listening. To be it's gotten them from Daiwa capital markets believes the US is influence diminished recently. As the Americans Europeans. Seem different deficit reduction plans. The German government is very much. The -- and it's. Is convinced that's the way off counting down the deficits in a very cost manner. Is actually the best answer to the current crisis. Why the US on particular I think from both the fiscal and the monetary policy -- still believes. That may be doing it and a growth friendly and slow way is the best -- so I think there are some. You know discrepancies in the views. -- ash Patel from Palestinian pundits think the change -- painful austerity. -- destabilized market but the dog increased debt significantly. To increase spending and to stimulate growth that danger that thick columns. That those bond yields are spiking up at the -- That the debt levels the common serviceable and only that the debt increase but -- servicing costs increased. And that double what I mean is walk in do you -- Europe's I think at the moment it's just gonna keep doing what it's doing. Amid protests and painful -- European beaches showing few signs of changing their course. And it's simply since the emergence of the U raising prices inflate Crist didn't convince them -- unlikely to keep them tick went.

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Europe listens to Lew but may not act

Tuesday, April 09, 2013 - 02:19