US “is not in line with the needs of the world economy” — RT

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26.08.2010, 03:24 9 comments

US economy enters double dip recession

Millions of Americans remain unemployed, US bankruptcies have reached a five year high, China slashed US bond holdings by the largest amount to date and US home sales have plummeted to the lowest level on record.

AFP Photo / Paul J. Richards

14.10.2010, 00:42 3 comments

Washington hijacked by Wall Street

While 14 million Americans are unemployed and 1 in 7 Americans are living in poverty, one group isn’t doing too badly.

13.11.2009, 17:37

China’s lessons to APEC leaders on how to cope with the crisis

The leaders of the 21 APEC nations, gathering in Singapore, have heard Chinese leader Hu Jintao advance further trade liberalization, financial reform and closer regional integration as key drivers of economic growth.

11.11.2009, 19:23 6 comments

New York facing bankruptcy in a month

NY Governor David Paterson announced to a hastily assembled joint session of legislators that the state will be bankrupt in a month’s time unless lawmakers immediately strive to close an ever widening budget gap.

26.06.2010, 01:32 4 comments

US financial reform bill lacks teeth

Legislation to overhaul the US financial system has passed a joint House and Senate committee. It will now go before both houses for a final vote.

14.07.2010, 03:17 4 comments

Income gap between rich and poor growing in America

Desperation. You catch a glimpse of it on the streets of Washington DC during rush hour as the gap between the have’s and the have not’s is growing.

28.08.2010, 02:50 4 comments

No transparency as Bernanke ‘lies to America’

Federal Reserve Chief Ben Bernanke said that the US economic outlook was inherently uncertain, but he downplayed the odds of another recession.

08.09.2009, 12:21

Russian economy past worst of recession - minister

Russia's economy is through the worst of the financial crisis and is on the road to recovery, according to the country's minister for economic development.

07.10.2010, 01:32 1 comment

Goldman: US economy to become “fairly bad” or “very bad”

Goldman analysts predicted two possible scenarios; one where the US unemployment rate rises moderately to 10 percent and the other in which the economy returns to an outright recession.

08.07.2009, 15:18

“Medvedev & Obama agree to fight against protectionism”

Ahead of the G8 summit the Russian and US leaders have agreed to discuss how to restructure the World Bank and the International Monetary Fund, said Konstantin Kosachev, Head of the State Duma Foreign Affairs Committee.

US “is not in line with the needs of the world economy”

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Published: 08 September, 2009, 17:11

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TAGS: Interview, Crisis, Politics, Crisis Chronicle, Currencies, Economy, Finance

“In our report, we highlight the importance of the reform of the international monetary and financial systems, including the role of the IMF and the exchange rate system,” says Detlef Kotte, an economist at UNCTAD.

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