US urges Europe to incentive economy

US urges Europe to incentive economy

US Treasury Secretary Jack Liu said that the EU should take a more robust measures to stimulate growth in light of the faltering economic recovery in the region.

He said in a speech on the global economy, the World Affairs Council of the United States, that "the current situation in Europe's policies do not achieve our common goal as a group with respect to the twenty-strong, sustainable and balanced growth."

Liu said that the European Central Bank, which cut interest rate and embarked on a bond-buying policy, has "taken strong steps to support the economy."

But he added that the recent economic performance is likely that this alone does not prove the adequacy of the restoration of a sound growth, there is a need for firm action on the part of local authorities and other European bodies to reduce the risk of the possibility of sliding the region into a deep recession.

The European Commission indicated last week that the rate of growth in the euro zone for the current and next two years will be much less than the previous forecast, which would be about 1% during 2014 and 2015.

She added that "the recovery in the European Union seems weak compared to other developed economies in the light of the historical examples of the rates of recovery after the financial crisis."

It is noteworthy that the euro zone, consisting of 18 countries out of recession last year, but they are struggling to achieve constant recovery.

Source: German