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Mexican president criticizes the US on its financial misbalances

Wednesday, December 14th 2011 - 17:48 UTC
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Calderon is currently and for the next twelve months president of G20 Calderon is currently and for the next twelve months president of G20

President Felipe Calderon criticized its powerful neighbour, United States during a speech in which he outlined the G20 agenda for the next twelve months, including the summit, which is under the presidency of Mexico.

On the closing of a seminar on the challenges for global economic growth, Calderon emphasized on financial misbalances and said it was crucial for economies such as the European and the US “to assume their responsibilities and adopt clear actions to balance their public finances”.

Other misbalances are originated in countries with an apparent current account surplus but caused by a “degree of intervention”, said Calderon at the meeting attended by Deputy Ministers from G20 members.

“We know the most relevant cases, the usual suspects let us say…such is the case of United States… and other nations”, said Calderón.

He said it was urgent to address and discuss all these problems in the G20, but “with full honesty”.

Calderón also referred to the strengthening of the international financial architecture, particularly the IMF to reinforce its finances both short and long term in such a way that “it can act efficiently and on time during severe crisis periods such as those we are going through”.

“Mexico has authorized the expansion of resources for the IMF, in accordance with our commitments with G20, and I really regret that countries such as the US, for example have yet to provide the funding needed by the IMF, available”, said the Mexican president.

During the twelve months as head of G20, Mexico will promote food security and promote sustainable growth.

Calderón said that food prices have gone up 25% and even when this is because of many factors, financial speculation can not be discarded.

“An increase in the basic food basket means an increase almost mechanic, almost automatic of poverty levels around the whole world”, he added.

Mexico is head of G20 which brings together the main economies, developed and emerging since last December first, when Calderon received the post from his French peer Nicholas Sarkozy.

The next G20 summit is scheduled for June 18/19 in the seaside resort of Los Cabos, Lower South California.

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  • Pirat-Hunter

    Does mister Calderon live in Mejico ?? I would thnk a strong commitment to gun regulations and international laws would be more important then promoting the banking system and the US dollar who are literally killing thousands in a drug war. if mr Calderon is unwilling to fight it why not just push to legalize it, with a position as president of the G20 for the next 12 month why not use it to change things wich Mexico can benefit from for the next 100 years, doesn't he know that USA has a lot more economists and analysts who are highly better informed then him ?? besides this analyst get payed for it and work for USA, if USA doesn't follow their own analysts what makes Mr. Calderon think USA will listen to him ?? I consider his comments a waste of good space unless this are just rettorics to build up a solid future political attack, in any case he doesn't need to set anything up since USA are much like UK, they just have to be told the truth.
    • ATF agents, as well as the private firearms dealer who sold the guns to the Mexican cartel’s buyer at the ATF’s direction, had warned ATF higher-ups against continuing the program and had warned that the guns would be used for criminal purposes.
    • Hundreds of guns (possibly thousands) sold to the Mexican cartel operatives under the ATF’s supervision remain unaccounted for and are presumed to be still in criminal hands.
    • Department of Homeland Security Secretary Janet Napolitano declared that the U.S.-Mexico border is more secure than it has ever been, but does not explain how, if this is true, a group of heavily armed men (all of whom had previous criminal records and had been previously deported) was able to penetrate more than 15 miles into the United States, fire on Border Patrol agents with guns provided courtesy of the ATF, kill a BORTAC agent, and then (at least one of them, supposedly the killer) escape on foot all the way back across the border.”

    Dec 15th, 2011 - 12:06 pm 0
  • DouglasBlammo

    Toby Obama has the answer ! Cut border patrol by 50%. Brilliant.

    Dec 16th, 2011 - 03:46 pm 0
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