<br/>US President Obama has asked leading industrialised countries not to move away too quickly from using public money to stimulate economic recovery. He said mistakes were made in the past when stimulus was withdrawn too soon. <br/> <br/>There has been a marked changed in emphasis among the G-20 in the last few weeks. For many of the Group members, specially the countries in Europe, the case for stimulating economic recovery using public finances have been overtaken by concerns about stabilising Government debts. The US administration has reservations about that change. And this is contained in President Obamas letter. He warns of past mistakes when he said stimulus was withdrawn two quickly resulting in renewed hardship recession. He, however, acknowledged that action would be needed to strengthen Government finances. <br/>
News On AIR | June 19, 2010 9:21 AM
Don’t us public money to fight slump: Obama to world leaders