European governments and the American Congress should have only one priority: permanently resolve the sovereign debt crisis. This is the position of Robert Zoellick, president of the World Bank, in clear contrast with the warning launched just this morning by Christine Lagarde. A few hours earlier, the number one of the IMF had urged political leaders not to sacrifice growth in an attempt to resolve the debt situation as soon as possible.
Zoellick instead believes that at the moment there is no other objective to pursue than the consolidation of the accounts, even if it is still too early to think of a united and coordinated action by the G20. “Among the major responsibilities of national governments – underlined the banker da Canberra – there are not only short-term challenges, in which they are often assisted by central banks, but also the problems to be solved in the medium and especially the long term”. Solutions to be found without giving in to protectionist temptations, but always respecting the principles of the free market.
The president of the central bank intervened in response to an article written by ten hands by the finance ministers of five countries (Canada, Great Britain, South Africa, Singapore, Australia) and published today by the Financial Times. The text calls for global measures to reassure investors and encourage the executives of countries in difficulty to settle their accounts as soon as possible.
