ID :
200136
Tue, 08/09/2011 - 14:08
Auther :
Shortlink :
https://oananews.org//node/200136
The shortlink copeid
Ahmadinejad: Hidden Hands Directing Economic Crisis in West
TEHRAN (FNA)- Iranian President Mahmoud Ahmadinejad stressed on Tuesday that the economic crisis which has ravaged most western countries is directed by some hidden hands.
"The economic crisis, of course, exists in the West but I think that a part of the economic crisis in the West is directed," Ahmadinejad said here in Tehran today.
"The moneys that exist in their (the western countries') bourses do not belong to themselves, but belong to those who are under their colonialism," he added.
After the plunge on August 5, 2011, the global stock market dived again on August 8, showing that the global economy might fall into another round of recession from the temporary rebound after the 2008 financial crisis.
Unlike three years ago, the current plight of the world economy could not be solved so easily. During the 2008 financial crisis, it might be considered resolved only by activating the Quantitative Easing Monetary Policy and injecting money into the market and financial institutions.
This time, however, even China might be unable to save the global economy. Its previous 4 trillion Yuan economic stimulus package has cost it a heavy price, including economic bubble formation and rapid expansion of local government debts.
The current crisis is mainly caused by debts in advanced countries. Expansion measures would only worsen debts and if the US introduces the third quantitative easing (QE), it would make inflationary to become further out of control.
Euro zone leaders have agreed to pour another 159 billion Euros into Greece to stop debt contagion across Europe while expanding the European Financial Stability Fund (EFSF) to prevent Ireland, Portugal, Spain and Italy from falling into a debt crisis.
"The economic crisis, of course, exists in the West but I think that a part of the economic crisis in the West is directed," Ahmadinejad said here in Tehran today.
"The moneys that exist in their (the western countries') bourses do not belong to themselves, but belong to those who are under their colonialism," he added.
After the plunge on August 5, 2011, the global stock market dived again on August 8, showing that the global economy might fall into another round of recession from the temporary rebound after the 2008 financial crisis.
Unlike three years ago, the current plight of the world economy could not be solved so easily. During the 2008 financial crisis, it might be considered resolved only by activating the Quantitative Easing Monetary Policy and injecting money into the market and financial institutions.
This time, however, even China might be unable to save the global economy. Its previous 4 trillion Yuan economic stimulus package has cost it a heavy price, including economic bubble formation and rapid expansion of local government debts.
The current crisis is mainly caused by debts in advanced countries. Expansion measures would only worsen debts and if the US introduces the third quantitative easing (QE), it would make inflationary to become further out of control.
Euro zone leaders have agreed to pour another 159 billion Euros into Greece to stop debt contagion across Europe while expanding the European Financial Stability Fund (EFSF) to prevent Ireland, Portugal, Spain and Italy from falling into a debt crisis.
