Friday, June 29, 2012

Stephen Cecchetti

From Norma Cohen, "Global economy is stuck in a vicious cycle, warns BIS," Financial Times, June 25, 2012. Via Gang8:

Stephen Cecchetti, chief economist of the BIS ­ often referred to as the bank for central banks ­ said five years after the financial crisis engulfed the global economy, the world appears no closer to finding a sustainable economic model...

Every additional year that policy makers fail to get to grips with long-term fiscal consolidation makes the recovery period even longer, he warned.


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