ECB chief Duisenberg blasts 'high US deficits'

Speaking at a news conference after Tthe ECB policy meeting on Thursday 3 April that left rates on hold Wim Duisenberg said "We now see - and that is a cause of concern - both the current account and the federal government deficit going in the direction of exceeding five per cent of GDP".

Source: Reuters

European Central Bank president Wim Duisenberg said yesterday that the US trade and budget deficits were a risk to world growth but extra trans-Atlantic co-ordination was not needed.

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