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da Silva, Francisco Ferreira
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2 articles of this author have been cited in the European Press Review so far.
Rescue packages needed even after the crisis
No sooner has the global economy shown signs of recovery than the International Monetary Fund (IMF) and the European Central Bank (ECB) have started bickering over whether further rescue packages make sense. The governments for their part see further aid as mandatory, writes the business paper Diário Económico: "The IMF maintains that even in future rescue packages are necessary, because [economic] reconstruction can be thwarted by the wrong political decisions. ... The statements by [IMF director Dominique] Strauss-Kahn contradict the warnings of the ECB, according to which such packages should be discontinued. ... Despite all of the differences between the heads of the IMF and the ECB, it seems the majority of the European governments don't doubt that the economy must continue to receive support to come out of the red. ... Now that the worst global economic crisis since 1930 seems finally to have been surmounted, it is time that the countries once more put their minds to fighting the scourge of unemployment by growing by more than 2.5 or 3 percent."
» full article (external link, Portuguese)
More from the press review on the subject » Economic Policy, » Global
Conventional measures exhausted
Diário Económico newspaper sees the Federal Reserve's radical lowering of the prime rate as a last ditch effort to fight the crisis: "Fed chairman Ben Bernanke has brought out the atomic arsenal to avoid deflation in the US. ... The prime rate hasn't been this low since 1954. ... The Fed has exhausted all of its conventional means for fighting the crisis. ... If despite this extreme measure the banks continue setting the bar too high in granting loans, Ben Bernanke will only have one alternative: pumping more money into the market and transforming the Fed into an ordinary bank so that the money reaches the economic agents now having a hard time getting loans from private banks."
» full article (external link, Portuguese)
More from the press review on the subject » Fiscal Policy, » Economic Policy, » U.S.
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