The U.S. presidential advisor John Green, international co re-election campaign of Barack Obama, said today that the U.S. does not see clear economic recovery without a Europe “united and strong.”
At a press conference, John Green, who participates in Burgos (northern Spanish) at the X Congress of Insurance Agents and Brokers in Spain with a keynote address, said that “uncertainty” about the European situation is “important at this time” .
However, he was convinced that Europe is already en route to economic recovery, while the U.S. takes 24 months of growth and about the same time reducing unemployment.
For Green, the crisis highlights the need for greater integration of the European Union and even greater economic integration in the U.S. and the EU in political, business and legislative branches.
In this regard, he recalled that the United States and the European Union account for 9 percent of world population, but account for 54 percent of gross domestic product worldwide.
After insisting that his intention is not to criticize the policies of the European Union and ensure not to speak on behalf of the Obama administration, Green explained that America is betting on fiscal discipline and reducing costs, but also by injecting funds and create good conditions for certain strategic sectors.
So he said that innovation is a key competitive advantage to overcome the crisis and may be also for the Spanish economy.
On decisions of recent months the Spanish Government, as labor reform or adjustments in public spending, Green acknowledged that the measures are “unpopular, but correct and necessary” to get the country out of its current situation.
Even said that with these measures, calling it “intelligent and brave,” Spain can be the beginning of his recovery, to “begin to see light at end of tunnel.”
In his opinion, to end the crisis must “innovate constantly”, because before it was enough to make an innovation in something and live in it for one or two generations, but now need to be “in constant motion.”
For Green, innovation does not mean investing in new sectors, but to redefine the traditional sectors and find ways to do the same in a more effective and competitive.
Category: Mutual Funds