Giovedì, 18 Ottobre 2018

Monti says next U.S. president should focus on finances


Vientiane (Laos), November 6 - Italian Premier
Mario Monti said Tuesday that restoring health to the public
finances should be a priority in the United States regardless of
whether President Barack Obama or Republican candidate Mitt
Romney wins the presidential elections there.
He warned that investor confidence in the dollar could
crumble quickly if this is not the case.
"Certainly yes," Monti replied when asked whether there was
a risk of a growing imbalance in the United States' finances.
"It's important that all the big areas of the world make a
contribution towards reabsorbing the imbalances, including
fiscal ones," added Monti, whose emergency government has passed
austerity measures to steer Italy out of the centre of the
eurozone crisis, at a press conference at the Asia-Europe
Meeting (ASEM) in Laos.
"As for the United States, we know the size of its deficit
and its debt well...
"The American authorities are aware of the problem of
budget imbalances. On the other hand, the political world's
capacity to attack these imbalances has shown itself to have
many limits in that country and issues related to public
finances are often at the centre of the public debate.
"Attention on issues regarding America's public finances
will remain high whoever wins the elections".
The United States has a public debt of over $9 trillion and
has run a budget deficit of over $1 trillion for the last four
tax years.
Monti said the dollar continues to be the world's reserve
currency because there is a propensity for private and public
international portfolios to have large quantities of public
debt, but warned that this does not mean that "things can't
change quickly".

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