Fed's Greenspan on international imbalances

In the speech 'International imbalances' given on 2 December Alan Greenspan of the Federal Reserve warned about the urgency for the United States to tackle its huge budget deficits to preserve the global economy's health.

In a keynote speech in London ahead of his final appearance as a key participant in a Group of Seven finance ministers' gathering, Greenspan deplored a move toward unstable budgets and trade protectionism that could trigger a messy unwinding of world financial imbalances.


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