Monday, November 10, 2008

"Exit strategies are nowhere to be found. "

Free Exchange with a few recommendations for the upcoming G20 summit based on a new book of essays on Vox:

"four priorities for action emerge:
  • In the financial sector, act quickly, strengthen and coordinate emergency measures to staunch the bleeding; in the real sector, use fiscal stimulus to get the patient’s heart pumping again.
  • Act immediately to strengthen the ability of the IMF and other existing institutions to deal with the crisis in emerging markets.
  • Start thinking outside the box about longer term reforms.
  • Above all, do no harm.

Oh, and let me add one more. Let’s put a hold on unprepared head-of-state meetings; they can do real damage, as we saw with the early October meeting of four European Union leaders."

Here's my comment:

Don the libertarian Democrat wrote:
"Signs that our great leaders can’t agree on priorities will signal to investors that the future will resemble the recent past."

What each leader should do is come prepared with a few proposals that aren't necessarily in the best interests of their respective countries, but would be appropriate overall. In other words, a list of what they're prepared to trade in a series of trade offs that such negotiations entail.
11/10/2008 7:33 PM GST

I just love giving advice to world leaders.

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