Rus News Journal

All to leave crisis

“ the Big seven “ while the Meeting of Ministers of Finance G struggles with it only appeals

- 7 in Rome has ended with a recognition of that crisis, probably, will pursue world economy all this year. For struggle against it promise to do the utmost, but anything concrete. For lack of accurate new initiatives the meeting main output declares refusal of protectionism which, however, on belief of experts, as well as crisis, anywhere will not get to.

the communique following the results of a meeting of Ministers of Finance of Italy, the USA, Japan, Germany, Great Britain, France and Canada ascertained that financial crisis has outgrown in economic and “ sharp recession “ will last “ the most part of 2009 “. As a matter of fact, the total document - the abstract of measures sustained in general phrases on an overcoming the crisis, already initiated by the developed countries. Here and vkachivanie liquidities in economy, and rekapitalizatsija banks, and unloading of their balances from problem actives. Ministers also have supported necessity of support of developing countries, reforms of IMF and working out of new standards for the world finance and economy. It is told and about measures on stimulation of national economies, “ executed quickly and resolutely “ which effect, however, is expected only “ in due course “. “ In the statement all is true, but is not beyond the general obligations and principles which we heard and earlier. The promise to operate skoordinirovanno runs counter to not co-ordinated approach which has been shown after similar promises in October of last year (a meeting of Ministers of Finance G - 7 in Vagshingtone. - daily) “ - quotes Bloomberg economist UniΡredit of Marko Anunsiatu.

As a result Italy presiding in this year in “ to the big seven “ Has presented as the main output of the Roman meeting “ adherence to avoiding of protectionist measures which only will aggravate recession “. This statement seems to experts purely declarative. “ in crisis the protectionism share is inevitable: the authorities of each country will do that they consider necessary. It is impossible to capture state measures all companies, all employees just as it is impossible to admit crash of the companies underlying national economies. However it is necessary to guarantee that the protectionism does not leave from under control that it remains limited “ - the senior strategist BGC Partners Howard Uildon has noted daily.

As a whole, according to the expert, the total declaration has a little the general that was really discussed at a meeting. Same follows and from words representing Russia at a meeting of the Minister of Finance of Russia Alexey Kudrin (participation of Russia in financial meetings G - 7 has advisory character, but in 2009 it can become their full participant). “ All critical moments always remain in discussions, and in the communique about what the agreement " is reached is always reflected; - he has declared to journalists upon termination of the Roman consultations. In this connection experts hope that the developed countries can co-ordinate and present a set of concrete measures on an overcoming the crisis together with accurate principles postcrisis miroustrojstva to summit G - 20 which will pass on April, 2nd in London.