We do what is necessary when it is necessary. 24) Does the unwinding of the global imbalances such as the deficit on the US current account argue for a more measured monetary response? Answer: The possible disorderly unwinding of global imbalances is calling for all partners concerned to do their homework.
And that homework has been very well documented, particularly at the global level, at G7 meetings. 25) What can Europe and the United States do? Answer: Europe should implement structural reforms to elevate the level of its growth potential. The continent has a lot to gain in doing that, growth, more prosperity and more job creation.