US Treasury Secretary Advises Europe to Push Stimulus Not Austerity

U.S. Treasury Secretary Jack Lew has renewed calls for Europe to pursue growth-boosting policies rather than austerity in a press conference with French Finance Minister Pierre Moscovici in Paris.

On the first day of his three-day trip to France, Germany and Portugal, Lew said Europe needed a growth plan “rooted in investment and demand”.

“Obviously we have been, over the years, concerned about maintaining demand in Europe and around the world. We think it is important here in Europe, in the U.S. and in Asia. We look at a growth agenda and it has to be rooted in investment and demand,” he told journalists at the Parisian Ministry of Economy and Finance on Tuesday.

“There needs to be some more growth in Europe and in Asia and we are doing are best to promote growth in U.S.”

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza