Look who´s leading the ‘Group of 30’

From Reuters:

A report by the Group of Thirty, an international body led by former European Central Bank chief Jean-Claude Trichet, warned on Saturday that zero rates and money printing were not sufficient to revive economic growth and risked becoming semi-permanent measures.

Some people just don´t go away! While president of the ECB Trichet was instrumental in not only aborting but reversing a recovery that was promising by raising rates twice to combat the rise in oil prices, which were coming back after having tanked after the crisis hit. Meanwhile, at about the same time the Fed and the BoE were less “mean”, just deciding that 4% nominal spending growth was “the way to go”.

Trichet is back

 

 

4 thoughts on “Look who´s leading the ‘Group of 30’

  1. I was curious about what the Group of 30 was so I looked at the article. But the article doesn’t say. It does refer to it as G30 so I am assuming that it is an extension of the G7. Of course it probably doesn’t matter because the majority of the article is more Reuters editorial of the monetary extremism flavor, disguised as news with just that one quote from Trichet and two from the IMF that contradicts Trichet stuffed in at the bottom. The sad reality is that if the ECB were to end QE, the supposed risks in the emerging economies would be realized. But these reporters only know how to spout on about unqualified risk.

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