Because the budget deficit is creating a situation in which the United States is not saving enough to finance its own... its own investment.
More Quotes from Rodrigo Rato:
We have believed for many years, much earlier than anyone else was talking about this issue, that it was in the interest of China to evolve to a more flexible exchange rate system.Rodrigo Rato
And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future.
Rodrigo Rato
We see clearly that governments have to make consumers and companies aware of the true prices. This is not going to be just a short-lived increase in the oil prices.
Rodrigo Rato
These imbalances pose serious risks to prosperity, because they are clearly unsustainable, and if they are corrected in a disorderly way, through an abrupt decline in the U.S. dollar and rise in U.S. interest rates, growth and prosperity all over the world will be threatened,
Rodrigo Rato
So we see clearly that the Indian government is moving in a path of reform that will allow the Indian economy to perform on a strong footing in future. We think that the prospects for the Indian economy are very good.
Rodrigo Rato
We are not talking about working conditions in Africa, we are talking about a working week of 48 hours. I have many friends who work more than that.
Rodrigo Rato
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