ECB's Constâncio heralds dawn of Seoul consensus
Vítor Constâncio, the vice-president of the European Central Bank, on Tuesday said the reign of the "Washington consensus" in economic policymaking had come to an end, and heralded a new era with a greater role for state intervention, which he labelled the "Seoul consensus".
"The laissez-faire regime of the Washington consensus is giving way to a quite different system: the new G20 Seoul consensus," Constâncio said in Paris. He said the G20 summit in London in April last year marked the end of
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