jackovesk
6th November 2011, 06:22
Australian Treasurer Wayne Swan warns of Euro Crisis 'Marathon'
AAP November 06, 2011
http://resources3.news.com.au/images/2011/11/04/1226185/941467-g20-leaders.jpg
Julia Gillard looks on as China's Hu Jintao, France's Nicolas Sarkozy and Barack Obama gather for a G20 photo.
TREASURER Wayne Swan is not letting up on criticism of European nations while warning remedial action to resolve the sovereign debt crisis there will be a marathon.
Mr Swan also reaffirmed Australian financial support for the International Monetary Fund so it could deal with potential vulnerability facing the global economy.
European finance ministers meet tomorrow amid concerns the G20 leaders summit in France failed to agree on the future direction for Europe.
The only successes being claimed were convincing Greece to back down from a referendum on its bailout and Italy agreeing to get its budget back into surplus in 2012 and providing regular reports on its efforts to stave off a crisis.
Europe still faced a difficult road ahead which meant that global volatility would continue for some time to come, Mr Swan said today.
“Determined, consistent and continuing action is required by the Europeans to deal with the debt crisis and restore growth,” the Treasurer said in his weekly economic note.
“This will be a marathon, not a sprint.”
Mr Swan lamented that European nations had ignored the necessary structural reforms over a long period.
They also had allowed their budget positions to gradually deteriorate to an unsustainable position, he said.
“It's only in the past month that Europe has really faced up to the enormity of the challenge,” Mr Swan said, adding the region's leaders had “dithered” when the debt crisis first emerged 18 months ago.
G20 finance ministers, including Mr Swan, are set to meet as early as December to flesh out the details of how much the IMF's resources will be bolstered.
Australia and China are among a number of nations to pledge extra resources for the IMF, while steering clear of the European financial stability facility, set up to stop the spread of the debt crisis.
Any money that Australia provided would be as a loan that would be repaid in full with interest, Mr Swan said.
“That means it doesn't affect the budget bottom line,” he said.
But the opposition says the move increases Australia's exposure to the debt crisis and any loan defaults.
“If we underwrite or loan monies that are not able to be fully paid back, ultimately it will be the taxpayer that will suffer,” frontbencher Eric Abetz said.
Finance Minister Penny Wong was scathing of the Coalition's stance, labelling it “irresponsible” and “inconsistent”.
She took aim at Opposition Leader Tony Abbott, saying his position on the issue was more akin to what Pauline Hanson would say.
Senator Wong said the European sovereign debt crisis was not the only issue of concern.
“We also need to look at the drivers of global growth in the medium term, including rebalancing the global economy,” she said, adding there were a number of things in the G20 summit communique which went to that.
“But much more needs to be done.”
http://www.theaustralian.com.au/national-affairs/treasury/europe-may-drag-australia-in-wake-as-rba-slashes-forecasts/story-fn59nsif-1226186948254
PS - For those of you who are unfamiliar with Australian Treasurer 'Wayne Swan' he is often referred to being a 'Gallah' &/or 'Donkey' and a Active Member of the NWO Globalist Criminal Gang..!
Hidden Messages..?
1. Euro Crisis 'Marathon' - Could it be TPTW are going to Draw this Out Painfully for as long as they can to inflict even more suffering..?
2. Senator Penny Wong - She is often referred to being a 'Spider' &/or 'The Cockroach' and a Active Member of the NWO Globalist Criminal Gang..!
Senator Wong said the European sovereign debt crisis was not the only issue of concern.
“We also need to look at the drivers of global growth in the medium term, including rebalancing the global economy,” she said, adding there were a number of things in the G20 summit communique which went to that.
“But much more needs to be done.”
number of things in the G20 summit communique which went to that.
To me 'Reading Between The Lines' they are going to 'Draw This Out' for as 'Long As They Can' and cause as 'Much Pain & Frustration' as Humanly Possible..!
When the 'Public' has 'Had Enough' -
Then This...The Criminals offer their Solution:
"A Global One World Electronic Currency"..!
Wake Up World: The (Euro) was 'Designed to Fail' to bring in 1 World ECurrency..!
Remember: Problem - Reaction - Solution
Within the next few Months, you will see a tyrade of MSM/NWO Globalist Spin on 'How to Fix' the Euro..!
But...Always
Remember: Problem - Reaction - Solution
Make 'No Mistake' about it the NWO Globalist Solution 'IS' to try and bring in a 'One World Electronic Currency'..!
That is ALL you Need to Know when you get Hounded by the Govt. and the Lame Stream Media Presstitutes over the coming months..!
Problem: 'Debt Crisis'
Reaction: 'Rioting & Dissent'
Solution: 'One World Electronic Currency'
I hope this Spells Out & Reminds You, what the Ultimate NWO Globalists Goal 'Actually IS'..!
Forewarned is Forearmed...
How to 'Use this Knowledge' to our Advantage is the Question Up for Discussion..?
http://projectavalon.net/forum4/showthread.php?34018-Wake-Up-World-The--Euro--was-Designed-to-Fail-to-bring-in-1-World-ECurrency..-
AAP November 06, 2011
http://resources3.news.com.au/images/2011/11/04/1226185/941467-g20-leaders.jpg
Julia Gillard looks on as China's Hu Jintao, France's Nicolas Sarkozy and Barack Obama gather for a G20 photo.
TREASURER Wayne Swan is not letting up on criticism of European nations while warning remedial action to resolve the sovereign debt crisis there will be a marathon.
Mr Swan also reaffirmed Australian financial support for the International Monetary Fund so it could deal with potential vulnerability facing the global economy.
European finance ministers meet tomorrow amid concerns the G20 leaders summit in France failed to agree on the future direction for Europe.
The only successes being claimed were convincing Greece to back down from a referendum on its bailout and Italy agreeing to get its budget back into surplus in 2012 and providing regular reports on its efforts to stave off a crisis.
Europe still faced a difficult road ahead which meant that global volatility would continue for some time to come, Mr Swan said today.
“Determined, consistent and continuing action is required by the Europeans to deal with the debt crisis and restore growth,” the Treasurer said in his weekly economic note.
“This will be a marathon, not a sprint.”
Mr Swan lamented that European nations had ignored the necessary structural reforms over a long period.
They also had allowed their budget positions to gradually deteriorate to an unsustainable position, he said.
“It's only in the past month that Europe has really faced up to the enormity of the challenge,” Mr Swan said, adding the region's leaders had “dithered” when the debt crisis first emerged 18 months ago.
G20 finance ministers, including Mr Swan, are set to meet as early as December to flesh out the details of how much the IMF's resources will be bolstered.
Australia and China are among a number of nations to pledge extra resources for the IMF, while steering clear of the European financial stability facility, set up to stop the spread of the debt crisis.
Any money that Australia provided would be as a loan that would be repaid in full with interest, Mr Swan said.
“That means it doesn't affect the budget bottom line,” he said.
But the opposition says the move increases Australia's exposure to the debt crisis and any loan defaults.
“If we underwrite or loan monies that are not able to be fully paid back, ultimately it will be the taxpayer that will suffer,” frontbencher Eric Abetz said.
Finance Minister Penny Wong was scathing of the Coalition's stance, labelling it “irresponsible” and “inconsistent”.
She took aim at Opposition Leader Tony Abbott, saying his position on the issue was more akin to what Pauline Hanson would say.
Senator Wong said the European sovereign debt crisis was not the only issue of concern.
“We also need to look at the drivers of global growth in the medium term, including rebalancing the global economy,” she said, adding there were a number of things in the G20 summit communique which went to that.
“But much more needs to be done.”
http://www.theaustralian.com.au/national-affairs/treasury/europe-may-drag-australia-in-wake-as-rba-slashes-forecasts/story-fn59nsif-1226186948254
PS - For those of you who are unfamiliar with Australian Treasurer 'Wayne Swan' he is often referred to being a 'Gallah' &/or 'Donkey' and a Active Member of the NWO Globalist Criminal Gang..!
Hidden Messages..?
1. Euro Crisis 'Marathon' - Could it be TPTW are going to Draw this Out Painfully for as long as they can to inflict even more suffering..?
2. Senator Penny Wong - She is often referred to being a 'Spider' &/or 'The Cockroach' and a Active Member of the NWO Globalist Criminal Gang..!
Senator Wong said the European sovereign debt crisis was not the only issue of concern.
“We also need to look at the drivers of global growth in the medium term, including rebalancing the global economy,” she said, adding there were a number of things in the G20 summit communique which went to that.
“But much more needs to be done.”
number of things in the G20 summit communique which went to that.
To me 'Reading Between The Lines' they are going to 'Draw This Out' for as 'Long As They Can' and cause as 'Much Pain & Frustration' as Humanly Possible..!
When the 'Public' has 'Had Enough' -
Then This...The Criminals offer their Solution:
"A Global One World Electronic Currency"..!
Wake Up World: The (Euro) was 'Designed to Fail' to bring in 1 World ECurrency..!
Remember: Problem - Reaction - Solution
Within the next few Months, you will see a tyrade of MSM/NWO Globalist Spin on 'How to Fix' the Euro..!
But...Always
Remember: Problem - Reaction - Solution
Make 'No Mistake' about it the NWO Globalist Solution 'IS' to try and bring in a 'One World Electronic Currency'..!
That is ALL you Need to Know when you get Hounded by the Govt. and the Lame Stream Media Presstitutes over the coming months..!
Problem: 'Debt Crisis'
Reaction: 'Rioting & Dissent'
Solution: 'One World Electronic Currency'
I hope this Spells Out & Reminds You, what the Ultimate NWO Globalists Goal 'Actually IS'..!
Forewarned is Forearmed...
How to 'Use this Knowledge' to our Advantage is the Question Up for Discussion..?
http://projectavalon.net/forum4/showthread.php?34018-Wake-Up-World-The--Euro--was-Designed-to-Fail-to-bring-in-1-World-ECurrency..-