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April 02, 2009

The G-20 summit: Venus considers Mars.

It's no surprise that European caution versus U.S. drive toward stimulus strategies is the main theme of President Obama's eight-day trip. The Associated Press notes that "Europeans look to welfare, not stimulus, in crisis". Excerpts:

Across a continent long accustomed to big government and high taxes, many Europeans are counting on generous welfare benefits to shield them from the worst of the meltdown. Others worry that loosening interest rates would lead to devastating inflation.

In the American view, the economic house is on fire, and only quick and decisive action will put out the flames. Europe is not quite as ready to pull the alarm.

For all their talk of coming together at this week's summit of the G-20 economic powers in London, European leaders have been openly skeptical of corporate bailouts and massive U.S.-style stimulus spending.

Posted by Holden Oliver (Kitzb├╝hel Desk) at April 2, 2009 02:13 AM


I agree. In Spain, unions are lobbying for salary increases and to make almost impossible to fire or lay off personnel. Nobody seems to care that over-subsidization brings productivity down.

Posted by: German Delgado at April 2, 2009 07:51 AM

You could at least invite your regular readers to your resurrection. I know I'm old, but I did miss out on The Other One.

Posted by: Fergus O'Rourke at April 8, 2009 09:35 AM

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