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Bruegel
21 February 2011

Bruegel published a paper on post-crisis divergence between European and US macroeconomic policies


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Die großen Volkswirtschaften der EU und der USA einigten sich rasch auf ein Maßnahmenpaket zur Begrenzung der Krise. Ein gemeinsames Vorgehen hat sich jedoch auseinander entwickelt. Bruegel untersucht, warum der "Londoner Konsens" nicht länger als ein Jahr überlebt hat.


In response to this situation this working paper suggests a critical quantum of coordination. Key measures include a commitment to avoiding deliberate currency depreciation and unilateral intervention; agreement to give the IMF an enhanced monitoring role; the adoption by parliaments of medium-term fiscal plans  and cooperation on the issue of Chinese undervaluation.
 


© Bruegel

Documents associated with this article

110221_From_convoy_to_parting_ways_WP[1].pdf


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