IMF's Rato on meeting global economic challenges

In the speech 'Meeting global economic challenges: How Europe can support a multilateral approach' given on 17 January Rodrigo de Rato of the IMF said financial globalization has made possible the financing of global economic imbalances on a scale previously unimaginable.

"Those range from large current account deficits in Eastern European countries financed by Western European banks, to global imbalances between the United States and its trading partners. Europe has not been a major contributor

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