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[Guardian Unlimited, U.K.]

 

 

Elsevier, The Netherlands

No More 'Care Packages' for Obama

 

"Obama gives the impression that the rest of the world is responsible for helping end the American economic crisis. The stimulus measures that (outside The Netherlands) have already been announced must first have time to take effect. Let us just wait and see how those work out before more is done."

 

By Paul de Hen

 

Translated By Meta Mertens

 

March 24, 2009

 

The Netherlands - Elsevier - Original Article (Dutch)

Obama's message to Europe: Aside from Great Britain, deficit spending in the form of government stimulus is not favored by a majority of Europe.

 

OBAMA'S MESSAGE: Read the commentary published in European newspapers from President Obama in regard to the G20 SummitRealVideo

European governments are not prepared to agree to additional economic stimulus measures like those favored by Obama. They are right. Lets first wait and see how earlier measures turn out.

 

What does President of the United States Barack Obama mean with the comments he has made in regard to the summit of the so-called G-20, the worlds most important industrial countries, published today in among other newspapers, de Volkskrant?

 

TOO SIMPLE

 

He let it be known that the U.S. wants to lead, and that the rest of the world should "join us with a sense of urgency" to end the economic crisis by taking complementary measures. At a minimum, that gives the impression that the rest of the world is responsible for helping him end the American economic crisis.

Posted by WORLDMEETS.US

 

That's a bit of an oversimplification. Of course, it is in no ones interest for the United States lingers in crisis. After the European Union, the U.S. is the most important trading bloc in the world.

 

But while the E.U. has a nearly flat balance of trade, Americans for years have lived beyond their means, largely financed by trade deficits - for the most part with East Asian export champions like China.

 

NO, NO MORE

 

In addition to an international economic recovery, a more balanced global trade situation is essential for the future - particularly in the relationship between the United States and East Asia. In addition to solving the acute worldwide recession, this, too, must be attended to.

 

SEE ALSO ON THIS:

Corriere della Sera, Italy: 'Lost Smiles' as Obama Prepares for Europe

Financial Times Deutschland, Germany: China and U.S.: Europe Should Fear G2, Not G20

Le Figaro, France: Obama and Sarkozy: Clashing Views That Need Not Be Fatal

Elsevier, The Netherlands: No More 'Care Packages' for Obama

Guardian Unlimited, U.K.: Britain Clears Decks for 'Barack Obama Show'

The Times, U.K.: Blaming 'Anglo-Saxons,' Sarkozy Threatens to Walk Out of G-20

 

The text of Obama's comments could also be interpreted as a call, for example, to the member states of the European Union to increase their own economic stimuli. That, by the way, is not explicitly stated in his comments. Obama only mentions that the already-adopted stimulus should be "sustained" until "demand is restored.

 

That makes sense, because European governments havent been prepared to spend more - and in this they are largely correct. The stimulus measures that (outside The Netherlands) have already been announced must first have time to take effect.

 

Let us just wait and see how those work out before more is done.

 

CLICK HERE FOR DUTCH VERSION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Posted by WORLDMEETS.US March 30, 5:28pm]