DSK, pessimistic about the eurozone, is in Beijing's return to public life

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DSK, pessimistic about the eurozone, is in Beijing's return to public life

Former IMF chief Dominique Strauss-Kahn made, Monday, December 19 in Beijing, his return to public life in an economic forum in which he compared to the euro area "on the raft to sink" , refusing to comment on his own disappointments. After more than seven months of turbulence personal DSK has chosen an economic conference in Beijing to regain its status as a specialist in macroeconomics, with its experience at the head of the IMF.
Foreign journalists who asked him personal questions about his judicial news on his mood or his choice of China to return to the front of the stage, he has consistently opposed the same answer: "No comment."

On a learned expert above the fray, he distributed good and bad points. "We see the European countries without a plan [rescue] to another, from a peak of last resort to another, again without admitting losses, still without allowing a resumption of growth and still failing to restore confidence, "said Strauss-Kahn.

EURO A "VERY VERY VULNERABLE"

Invited by the group NetEase, one of the giants of the Internet in China, DSK gave a speech in English forty-five minutes, in which he was highly critical of the rescue measures taken in Brussels. He was, moreover, rather tender with his Chinese hosts. He then answered questions from Internet users sent through a moderator of the forum.

"With the recent storm, the raft seems to be strong enough, he said, speaking of the eurozone. The fact that the euro is still in the middle of the river and that the union budget is not completed on makes it very very vulnerable, and the raft seems about to sink. (...) I am not persuaded that [French President] Sarkozy and [German Chancellor] Angela Merkel will understand each other and c ' is probably one of the reasons why the European system has problems ahead, "he said.

He believed, however, that the Chinese government was "particularly well drawn out of the game" during the 2008-2009 crisis.


The New York Stock Exchange closed on Wednesday with a slight increase, given the high hopes regarding the EU summit

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The New York Stock Exchange closed on Wednesday with a slight increase, given the high hopes regarding the EU summit

The New York Stock Exchange closed on Wednesday with a slight increase, given the high hopes regarding the EU summitThe Dow Jones Industrial Average rose 0.38%, while Standard & Poor's (S & P) 500 rose 0.2%, while the Nasdaq market finished firm, with a minus 0.01%.

 

 Shares on Wall Street have failed as the three consecutive meetings of growth but a relatively low turnover.

 

 The main topic of discussion at the summit Thursday and Friday in Brussels will be, most likely, Franco-German proposal to introduce the EU Treaty tighter control of national budgets and sanctions for governments that violate EU rules.

 

 Financial and commodity markets evolve for several months in connection with the developments in the euro area will be more volatile during the summit, traders trying to position themselves ahead of events - be credible and decisive conclusion of a settlement agreement crisis is worsening turmoil in the event of a failure of politicians to reach a consensus.

 

 Financial shares rose strongly on Wednesday in New York, because of hopes that resolving the crisis in the euro area will reduce tensions in the banking system. Titles JPMorgan Chase rose 2.3% and the S & P financial sector closed up 1.2%.

 

 Investors are cautious, because the memory of previous EU summit where EU leaders failed to agree on decisive action, while solving the debt crisis of the state was the main issue on the agenda. Also, market confidence was tempered by comments from a German official quoted by Reuters, which appeared pessimistic privniţa summit because "many players still did not understand how serious the situation."

 


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