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The global economy continues to run at low speed and many countries, particularly in Europe, seem unable to overcome the legacies of the crisis. With high unemployment, high inequality and low trust still weighing heavily, it is imperative to swiftly implement reforms that boost demand and employment and raise potential growth.
Secretary-General Angel Gurría outlines the crucial actions that we must take to resolve the euro crisis, strengthen the global financial system and anchor growth in the long-term through structural reform at the 30th anniversary of the International Institute of Finance in Tokyo.
The crisis has left a legacy of nearly bankrupt governments. There is little doubt that all countries among the advanced economies are now in urgent need of implementing a credible medium-term fiscal consolidation strategy, argues Jean-Claude Trichet, president of the European Central Bank.