Countries blame US for Casino Capitalism
Seen at the Associated Press
Various countries are blaming the USA for their 'casino capitalism' and the US government's failure to resolve the financial crisis threatening the foundations of the global free market.
Especially the Latin American leaders say that America must urgently fix the financial crisis it created before the rest of the world's hard-won economic gains are lost.
According to President Oscar Arias of Costa Rica, whose economy is highly dependent on U.S. trade:
"The managers of big business took huge risks out of greed, .... What happens in the United States will affect the entire world and, above all, small countries like ours."
Though Europeans seem to have more of a sense of shared responsibility, they also blame the U.S. government for letting things get out of hand. Germany's Chancellor Angela Merkel delivered scathing remarks last week that stricter financial regulation is needed to prevent unfettered capitalism and all seem to agree that unless this is done, capitalism will destroy economies around the globe.
Brazilian's President Luiz Inacio Lula da Silva stated that:
"They spent the last three decades saying we needed to do our chores. They didn't,"
And even staunch U.S. allies like Colombian President Alvaro Uribe blasted the world's most powerful country for egging on uncontrolled financial speculation that he compared to a wild horse with no reins with just as scathing criticism:
"The whole world has financed the United States, and I believe that they have a reciprocal debt with the planet,"
Though global markets on Tuesday seemed to have recovered some of the ground they lost in a worldwide slide the day before, politicians from Europe to South America insisted the risk of a further plunge remains high.
EU Commission spokesman Johannes Laitenberger also delivered an unusually blunt statement from the 27-country European Union:
"The United States must take its responsibility in this situation, must show statesmanship for the sake of their own country, and for the sake of the world."
Read the entire article here
Courtesy: http://www.a1cashcasinos.com/
Labels: capitalism, casino, finance
posted by There is always a better day ahead.. @ 10:28 PM
0 comments
