This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

OECD Chief: Large Economies Cannot Afford More Spending

MOSCOW, February 15, 2013 /PRNewswire/ --

Angel Gurría, Secretary-General of the OECD discussed pressing economic questions in an exclusive interview with RT. The interview aired in full on February 15, 2013.

Gurría expressed his skepticism regarding the proposed tax on financial transactions, which has been widely discussed in Europe. He noted that "only a few countries will adopt it. And if it's not adopted by all the countries in the world, at least all the countries that do a very important volume of international financial transactions, then it can very easily move to the next country."

Gurría added that there's an uncertainty regarding the purpose that the collected tax would serve: "Do you want it to recover part of the losses incurred by the systems, or do you want to create a fund to be able to face any future crises? Do you want it just for general purposes, for the treasury…is it just one more tax in order to generate more revenue?"

Asked whether in his opinion certain governments are waging currency wars, Gurría affirmed that "there are no currency wars today. We are further away today from a currency war than we were two or three years ago when this phrase was coined…What we have today is a number of countries exploring ways in which they can improve the growth prospects and improve the job creation. Not necessarily manipulating the currency to gain competitiveness at the expense of the next person."

He emphasized that improved economic performance of the United States, Europe and Japan will benefit global economy as a whole, but with limited options at their disposal "what we're seeing is that these large economies are looking for ways in which to stimulate growth that's no longer based on more spending, because they cannot afford more spending".

Watch the full interview at http://rt.com.

RT is a global international news network that broadcasts in English, Arabic and Spanish from its studios in Moscow and Washington, DC, and is available to 630 million viewers worldwide. Pew Research Center's 2012 study named RT, whose YouTube channel has passed 850 million views, as the largest provider of news video footage on the world's largest video sharing platform. RT is the only Russian TV channel to garner two nominations for the prestigious Emmy International Award.

SOURCE Russia Today

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs