World policymakers gather in Washington later this week to ponder how to sustain economic recovery at a time when the United States is about to turn off its money taps. Given the same G20 finance ministers and central bankers met in Australia only two weeks ago it is not hard to guess how the debate will go: most of the western world will urge the euro zone to do more to foster growth and Germany will warn against letting up on austerity. "Existing flexibility within the rules should allow governments to address the budgetary costs of major structural reforms, to support demand and to achieve a more growth-friendly composition of fiscal policies," European Central Bank President Mario Draghi said on Thursday after a monthly policy meeting. The euro zone in the guise of the ECB has been doing its best to come up with new stimulus, though it has shied away from full quantitative easing so far.
via Business News http://ift.tt/1xRJlB9
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