EU's Rehn: G20 should focus on structural reforms

MOSCOW (Reuters) - The Group of 20 nations should focus on structural reforms rather than on short-term fiscal and monetary stimulus, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Friday.

Rehn did not name any G20 countries but his remarks, at a conference in Moscow before a meeting of G20 finance ministers and central bank governors, appeared to refer to policies in Japan and the United States.

"The G20 should focus more on reforms than on short-term fiscal and monetary stimulus," Rehn said.

Central banks in Japan and the United States have policies of buying government bonds to boost credit to the economy, and Japan's government also wants to additionally stimulate the economy fiscally.

Such policies have led to a weakening of the dollar and the yen, making exports of these countries more competitive, in what some policy makers refer to as "currency wars".

(Reporting by Jan Strupczewski, Editing by Timothy Heritage)

Source: http://news.yahoo.com/eus-rehn-g20-focus-structural-reforms-083945727--business.html

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