Central bankers want political action

“Act now!” Such is the gist of the message sent by central bankers and the managing-director of the International Monetary Fund from Jackson Hole, Wyoming (USA) to political leaders in order to counter the risk of a global recession, says the front page of the French financial daily, La Tribune. The 29th version of the annual ritual which gathers central bankers from the most powerful countries and the cream of international high-finance was “feverishly awaited by the markets,” the paper added. The chair of the US Federal Reserve, Ben Bernanke, the president of the European Central Bank, Jean-Claude Trichet and the managing-director of the IMF, Christine Lagarde all share the same mind-set. In their view, “The only solution, is convincing, ambitious stimulus packages, supported by a strong political consensus so that growth will return,” the paper said in an editorial, concluding that “Anything is better than inaction, talks, procrastination and the fear of rating agencies”.