Ireland has been overshadowed concerns about the debt crisis of the parties denounced the U.S. policy of printing. U.S. Eastern Time on November 16, just returned from Asia and the Middle East U.S. Treasury Secretary Timothy Geithner said in an interview, the economic crisis the U.S. credibility in the world by the injury, wants Americans to realize that this issue importance. The RMB exchange rate issue, he expressed understanding of the Chinese government’s own economic development situation in accordance with policy adjustments made. Ireland also expressed concern about the debt crisis, hoping the EU will take measures as soon as possible, so as not to endanger the global economic recovery.

American Policy Review

Americans should recognize that the economic crisis has severely damaged U.S. credibility. Since the outbreak of the financial crisis, American-style economic management system has been questioned, and now other countries in the world, said the system still offensive. As Americans, recognizing that U.S. credibility was shaken very important.

This is Geithner Feeling G20 summit in Seoul the second round of the U.S. national policy of quantitative easing discontent, and the United States put pressure on the renminbi has been criticized in other countries after the heartfelt words. Asked about the future of domestic economic policy, Geithner reiterated his support for Obama’s economic policy. He said during the Obama administration will extend Bush’s tax relief plan for the middle class, but tax cuts for the wealthy end of the year end.

U.S. pressure on RMB appreciation, intended to weaken China’s export power. And Geithner on the exchange rate of the latest response is to understand the Chinese government held in appreciation of caution on the issue.

The possibility of low interest rates

Turning to the debt crisis of the Irish question, Geithner said the EU has the ability to solve the debt crisis, but he warned that the EU should have been from the debt crisis last summer, learned a lesson, so deal with the crisis sooner the better. He said: “If you want to quickly resolve the debt crisis of the EU, we must work together to carry out policy reforms, the only way to other countries in the short term to provide some financial assistance.” This is the first time Geithner to comment on the debt crisis in Ireland. He was worried that, if the problem is not quickly resolved, the crisis inevitably spread to other countries, which hurt the global economic recovery process.

European Central Bank and euro zone countries are currently pressuring Ireland, Portugal and to prevent the crisis spreading to other larger economies. At present, the Portuguese government debt has accounted for 82% of GDP, while Greece and Ireland, respectively, accounted for GDP, the debt 130% and 100%. But economists said that, coupled with corporate and private debt, total debt of Portugal is already accounted for 250% of GDP, so the situation is not better than Ireland.

Inflation in Asia, Europe and the United States the second round of the debt crisis of the quantitative easing policy is effective for global investors become frightened. Europe seems to be caught in a double crisis, debt crisis remains unresolved, accelerating inflation rose in October have added a worry. As energy prices accelerated in October inflation rate in Europe in two years of the most high-speed, consumer prices rose 1.9%, energy prices rose 8.5%. National Bureau of Statistics data also show that in October CPI rose 3.2%, higher than market expectations and exceeded the warning level of 2%. Analysts said the euro-zone inflation remains in line with European Central Bank set the goal, but Ireland is more in deflation, in order to consolidate economic recovery, ECB rate hike is unlikely.

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