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Joe Oliver Says G20 Sees ‘Significant Economic Challenges Ahead’
By Gordon Isfeld , Financial Post Sep 23, 2014
Canada’s finance minister is urging European countries to consider taking quick action to repair their flagging economies by following stimulus programs similar to the one that pulled this country out of recession.
“During the course of our [G20] discussions, we confronted an uncomfortable reality: We still have significant economic challenges ahead of us,” Mr. Oliver said during a conference call with Canadian reporters following the G20 finance ministers’ meeting in Cairns, Australia.
“Europe continues to struggle with incipient growth and very low inflation. Italy has entered in a triple-dip recession. China’s remarkable growth has moderated, our biggest trading partner, the U.S., appears to be emerging from sluggish and uneven growth but does not expect to be in a comparable position to its pre-recession levels,” he said.
“No G20 nation is immune to these global economic challenges. And that’s why it is so important that we work together to overcome them.”
Read Full Article on Financial Post »