Maripuu: developed striking countries, stop that nonsense! (Äripäev, in Estonian)

16 Jun 2010

Many developed countries have taken loans in order to calm their easily striking societies. Now it is time to stop playing games and start working again, says the Senior Partner of Redgate Capital Veikko Maripuu.
 
"I am not certain whether the W-shaped recession is here or not, but I would look at it from a different perspective“, told Maripuu to Äripäev. He added that many developed countries have large public debts and in recent years they have been assuaging the results of the crisis by maintaining the public sector's expenditure and taking new loans.
 
This is followed by a well-known policy, which means curing the economy with the excessive regulation of exchange rates, said Maripuu. "I would say that some countries really have time to stop that nonsense and start working again. Now it is time to tighten the belt, take the shovel and scythe and toil in the field again. Of course, it is easy for us to say this, here, on the coast of the Baltic Sea, where we have not imbibed trade unions and going on strike from our infancy.“

In Maripuu´s opinion problems might occur when some countries will not manage, and when international banks which have given loans to them, will refuse to lend them in the future. Then there will be a lack of trust and nobody will get loans any longer.

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