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Faujas, Alain
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2 articles of this author have been cited in the European Press Review so far.
Emerging nations block their own path
Christine Lagarde remains the best candidate as long as the emerging economies fail to agree on who should head the IMF, writes the left-liberal daily Le Monde: "The Europeans should have asked the other member states the basic question: do you want a candidate who follows in the footsteps of Strauss-Kahn, who favours the renewal of state interventionism and a respect for social security to ensure the 'strong, durable and balanced' growth they long for? In that case, Christine Lagarde wonderfully embodies this European interventionism. Or do you want someone who favours ultra-liberal orthodoxy, budget equilibrium at all costs and widespread privatisation? In this case why not Agustín Carstens, the boss of the Bank of Mexico ... even if neither the Brazilians nor the Argentinians back him? If the emerging countries want the Fund to be directed by one of their own one day, they should get behind a single candidate and prepare him on the long term."
» full article (external link, French)
More from the press review on the subject » International Relations, » Fiscal Policy, » Europe, » Latin Amerika, » U.S.
Eastern Europe particularly hit by the crisis
The global economic and financial crisis has not hit all countries to the same extent. The French daily Le Monde writes that the states of Eastern Europe and the former Soviet republics have been hit the worst by the crisis: "Africa, the most underprivileged continent of all, has not suffered the most from this formidable recession. No, the worst hit were Central and Eastern Europe and Central Asia. According to prognoses for 2009 released in October by the International Monetary Fund (IMF), South Africa's economy will only shrink by 2.2 percent. ... In comparison, the countries of Central Europe and Central Asia ... are experiencing a major catastrophe. The drop in GDP there has been enormous. ... A financial storm is brewing that is bringing German, Austrian, Swedish and French banks to lower their credit limits."
» full article (external link, French)
More from the press review on the subject » Fiscal Policy, » Economic Policy, » Asia, » Eastern Europe
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