Padoa Schioppa Sees Limit to Economic Stimulus Effectiveness, Sole Says
By Armorel Kenna -
2010-09-03T06:50:14Z
Tommaso Padoa-Schioppa, a former Italian finance minister and central banker, is “convinced” there’s a limit to how effective economic stimulus measures can be, according to an interview with daily Il Sole 24 Ore.
“There should be a clear idea of sustainable growth, abandoning the drive to return to growth that got us into this crisis,” Padoa-Schioppa told the newspaper. “Europe is more balanced in this respect than the U.S.”
Padoa-Schioppa expects tension in coming months as the U.S. pressures other countries to stimulate growth and differences in approaches to monetary policy affect exchange rates, Sole reported.
To contact the reporter on this story: To contact the reporter on this story: Armorel Kenna in Milan at akenna@bloomberg.net
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