CAMBRIDGE, E.-U. – Les discussions sur les « stratégies de sortie de crise » seront prioritaires sur l’agenda de la réunion du G20 qui se tiendra à Pittsburgh dans quelques jours. Tous feront la promesse d’inverser la tendance qui a prévalu ces deux dernières années exprimée par une augmentation explosive des dépenses budgétaires et monétaires, et de le faire ni trop tôt, ni trop tard, et de façon concertée.
De bien belles promesses ! Mais que signifient-elles vraiment ?
Commençons par l’objectif d’inverser du gonflement monétaire, nécessaire pour éviter une augmentation de l’inflation lorsque la demande globale commencera à reprendre. Mais il est aussi important de ne pas le faire trop tôt car cela pourrait bien freiner la naissante et fragile reprise actuelle.
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