 The world's leading emerging economies have urged Western governments to pursue "responsible" economic policies, in particular referring to quantitative easing.In a joint statement leaders of Russia, Brazil, India, China and South Africa, collectively BRICS, have condemned the policies of western economies saying "It is critical for advanced economies to adopt responsible macro-economic and financial policies, avoid creating excessive liquidity and undertake structural reforms to lift growth" as written in the Telegraph.Another criticism prevalent in Europe, is that it creates moral hazard for governments.