Isn’t it a case of a “dialogue of the deaf” with the Americans calling on Europeans for more growth, the Europeans calling on the United States for smaller deficits and both the Americans and Europeans calling on the Chinese to float free from the weakening dollar? What you call a dialogue of the deaf, I, on the contrary, would describe as broad transatlantic consensus.
We agree on the diagnosis and the measures to be implemented: the Americans have a savings shortfall to make up and the Europeans need more structural reforms in order to increase their growth potential. The problem we share is one of implementing these measures.