Greenspan urges US to save

UK - Federal Reserve Chairman Alan Greenspan has called savings an important component of the economy and urged a national consensus on balancing savings and risk-taking while preserving productivity.

"The level of saving remains a key ingredient of economic growth," Mr Greenspan said during a speech at the US Department of Labor. "But we need to know whether the source of that saving is sustainable."

Speaking to a group gathered in Washington for a conference on retirement saving, Mr Greenspa