Europe Should Lead Global Financial Reform
Jim O'Neill, Goldman Sachs International | July 14, 2008
Outperforming the dollar and the yen, the euro is a resounding success. ++ Still, Eurozone policymakers should allow for more economic freedom and encourage competition. ++ Europe should stop supporting national enterprises and give the ECB more support. ++ In terms of external economic policy, Europe should offer the world its experience and help reform the G8 and IMF as well as deal with Sovereign Wealth Funds. ++ Unless the Eurozone takes the initiative on global financial reform, “it will remain a lost cause."
