Brazil's biggest newspaper reports today that the BRIC countries and Europe have united to require that the final declaration of the summit of the G-20 this week includes a political call for countries to abandon the adoption of measures that end up jeopardizing the other economies. The call to be proposed will be a clear message to the U.S. government, after the Fed announced the injection of $ 600 billion into its economy.
Interestingly, the G20's meeting happens at the end of this week in South Korea, but the finla delcration is being written today. Yesterday, Korean activists took to the streets of Seoul and the police had to use force and even pepper gas to disperse protesters.
Sources close to the negotiations confirmed that the call for a reinforcement of the message against attitudes such as the United States is one of the main points of action of diplomats from Europe, China, Russia, India and Brazil. The movement aims to try to force governments to coordinate their policies, and forcing many to develop recovery strategies to consider the situation of other countries.
More ironic negotiators affirm that the BRICs and Europe "finally started to understand themselves" within the G-20, albeit in a unanimous way to attack the United States.
"This is more like a G-19 to 1 than the G-20 smooth and confident that we saw two years ago," said a source close to negotiations. According to the International Monetary Fund (IMF), a coordinated action of G-20 to save the world economy could generate 52 million jobs in the medium term. But the fact is that the honeymoon in the G-20 is a thing of the past.
In fact, the pressure on the Americans began at the weekend. Central banks around the world asking the Fed's explanation of its decision. The measure, for many, strengthens the threat risk of an asset bubbles in emerging markets, as the experience over the past two years showed that the injection of liquidity in the U.S. economy is not being absorbed and resources end up heating the flow of speculative capital emerging markets.
Since yesterday, the sheriffs of international finance are meeting in Basel, a meeting that promises to be a test for voltage at the summit of the G-20, on Thursday in Seoul. "What was done must be explained," charged a senior official of the Argentine Central Bank. "There are many countries and the angry mood is not good," he admitted.
Betrayal and Treason
On the European side, bankers emphasize thatb they do not understand how the U.S. took such a course, just weeks after signing a statement from finance ministers in which it was clear that governments will be "vigilant" about the impact of its measures in the other partners. The American behavior comes to be classified as "treason." Now, Berlin and Paris insist that policies need assurances that such practices will not be repeated. "The pressure will be strong over the United States in the G-20," admitted one of the presidents of BC from a Scandinavian country.
Monday, November 8, 2010
QE2: The G20 is Now G19+1, All Against the U.S., Treason Accusations
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2010
(1051)
-
▼
November
(105)
- Citigroup: Portugal is Insolvent
- Spain's Yields Jump As Its Banks Will Struggle To ...
- Roubini: There is Not Enough Money To Save Spain
- 50,000 March in Dublin Against Irish Budgets Plans...
- Tensions Escalate in the Koreas and Europe, Spain ...
- Brazil Raises Minimum Credi-Card Payments to 20% T...
- Irish Unions: Government Has No Mandate to Sign Re...
- Chaos In Irish 10-Year Bonds: At Highest Ever Sinc...
- ECB: "It Is Inconceivable That The Euro Fails"
- Ireland In Chaos, Massive Cuts, Massive Strikes Pl...
- The Farce: Irish Banks Passed European Bank Stress...
- Canadian Inflation Jumps, Much Higher Than Expected
- Chaos in Ireland: ECB Says "The Euro Will Survive"
- Irish Government Agrees on Bank Bailout Then Colla...
- Irish Government Loses All Remaining Credibility: ...
- The U.S. Is Following Japan Right On
- The QE2 Purchase Schedule
- Roubini and The Elephant in The Room; Will Need Ma...
- Meredith Whitney: Municipals Will Default, There W...
- Bernanke: U.S. Risks Having Millions of Unemployed...
- "We Serve Neither King Nor Kaiser But Ireland"
- Ireland Mourns Bailout Forced Down Their Throats
- Irish Bank Bailout - The View From Ireland: Sovere...
- Why Would The Irish People Sink Into More Debt to ...
- FT: Europe Should Prepare Now For a Run on The Ban...
- Attention UNG Lovers: Natural Gas Contango Ends fo...
- The GM IPO Travesty
- OECD Releases Outlook for 2011; Cuts China's Growt...
- Petrobras Finds More Light Oil In Brazil: To Be Nu...
- The Real Letter From Warren Buffett To Uncle Sam
- Latest Roubini Video: QE2 Will Have Little Impact,...
- Evolution of Historical Yields Show In How Much Tr...
- Unlike Bernanke, Europe Can't Just Throw Money Fro...
- Euro Zone A Terrible Mess, Falling Apart At The Se...
- Wild Volatile Movements in Currencies and Gold: Ve...
- Yen's Huge Drop Allows for Big Profits On The FXY ETF
- Bernanke's Dream: U.K. Inflation Jumps to 3.2%
- Boeing, Airbus, Embraer in Trouble: End of Major A...
- Yen Dropping Hard, Touched 82.985
- Ireland in Talks With ECB For 60B to 80B Euros Bai...
- QE2: Bonds Are Acting Wild
- Nassim Taleb Blasts Bernanke, Says The Fed's Busin...
- Great Deal on Yuan 2011 Options Through CYB ETF
- G20: Victory for Emerging Countries, Green Light t...
- The Yen Collapsing - Again
- ECB On Path To Force Ireland and Portugal Bailout:...
- Beware The Weekly Options: CSCO Options Expire Today.
- China's Inflation Jumps to A 25-Month High; Food I...
- G20 Summit: Brazil Defends Use of New Commercial C...
- G20 Summit: China Flatly Rejects Proposals and Acc...
- Now Geithner Says Greenspan is Wrong
- Latest Report: There are Five Unemployed For Every...
- Yuan: A Perfect Buy Signal
- Wild FXY Trades
- Brazilian Stocks In New York: Spectacular Returns
- This is What The G20 Countries are Arguing About; ...
- Greenspan Admits U.S. Seeks Currency Weakening
- Brazil's VIV Profit Jumps 81%
- Chinese Rating Agency Lowers U.S. Ratings: "U.S. S...
- Canada: No Gold in Global Currency System
- Shocking Letter From Obama to G20
- Brazil: U.S. Opened an Exchange War With Disguised...
- Wild Currencies: The Yen at 6AM Continues Massive ...
- VISA Floods Market With 0% Cheques Again
- Brazilian Automobile Industry Surpasses U.S. and G...
- Brazilian Monthly Inflation Jumps To Highest Since...
- Gold Straddles Show Stellar Performance: GLD (+217...
- Huge Move on the Yuan Overnight
- Germany Takes Gloves Off: U.S. Lived on Borrowed M...
- Natural Gas and Gold Are Rocking Today
- VXX To Jump Tomorrow!
- Post-QE2 Options Results: Spectacular for XLF and ...
- A New All-Time Record High for Gold, and GLD ETF
- QE2: The G20 is Now G19+1, All Against the U.S., T...
- Brazil's Automobile Production Beats Previous Annu...
- World Bank: New Monetary System To Include Gold
- Rescued Chilean Miner Completes New York City Mara...
- Brazil Has 5 Massive and Nasty Weapons Against QE2...
- Germany: Bernanke Was Clueless With QE2
- Rosenberg: Bernanke is Bearish, That's Why He Did ...
- World Reacts Negatively to QE2, Brazil and Others ...
- Gold at a Whisker From $1,400
- ECB Refuses To Release Information on How Greece H...
- QE2 And The Huge Effects On Oil
- QE2 and The Bank of Japan Reaction: FXY Options
- Pimco Says QE2 Likely to Backfire: New Protectioni...
- Post QE2: Brazil's Stocks Near All-Time High, Again
- QE2 Aftermath: Gold Rocks; Gld Straddles At + 63%,...
- QE2, Gold, and Yamana: Explosive Combination
- The Top Three Global Stock Exchanges
- The Best Countries To Have Invested In Through ETFs
- Roubini: Another Nasty Crisis; Forget Subprime, Lo...
- U.S. Homeownership Rate at 10-Year Low: 66.9%; Ban...
- Profitting From UNG's Moves Either Way, Recovering...
- QE2 And The Expected Wild Currency Moves: Straddles
- $500B or $2T? Profitting From the QE2 Announcement...
- BP Raises Costs of Gulf Oil Spill to $40B
- QE2 May Trigger Full Demise of US Dollar, Out of C...
- Australia Raises Rates to 4.75%: Aussie Dollar Ris...
- QE2 May Be The Biggest Non-Event Ever
-
▼
November
(105)
No comments:
Post a Comment