Bloomberg news about G8:
By Daniel at 13 June, 2009, 8:03 pm
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June 14 (Bloomberg) — The Group of Eight nations began considering how to reverse the emergency steps they took to rescue the world economy as it shows signs of recovery.
As they delivered their most upbeat outlook since Lehman Brothers Holdings Inc. collapsed, G-8 finance ministers said they will start planning exit strategies for when sustainable growth returns. It’s still too soon to roll back budget deficits and bank bailouts, they said after a meeting in Lecce, Italy.
“We discussed the need to prepare appropriate strategies for unwinding the extraordinary policy measures taken to respond to the crisis once the recovery is assured,” the ministers said in a statement yesterday after two days of talks. There are “signs of stabilization,” though “the situation remains uncertain.”
Governments are under pressure to turn their attention from fighting recession to smoothing a recovery as investors worry more than $2 trillion in stimulus programs will spark inflation if left unchecked. The officials bickered over whether Europe is endangering a rebound by refusing to impose stricter health checks on individual banks.
“Early signs of improvement are encouraging, but the global economy is still operating well below potential and we still face acute challenges,” U.S. Treasury Secretary Timothy Geithner told reporters. Central bankers didn’t attend this meeting and neither interest rates nor foreign exchange were mentioned in the statement…
Full article is at http://www.bloomberg.com/apps/news?pid=20601087&sid=awa2gNa.hKek
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