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setUoYouRPROFILE's blog: "tufui"

created on 08/25/2011  |  http://fubar.com/tufui/b343104

Prime Minister Stephen Harper is issuing dark warnings that the world will be plunged into another global recession unless heavily indebted nations take concerted action to cut their deficits. It was one in a series of cautions about the European debt crisis from world leaders and especially Ottawa,gucci outlet where the tone mounted from concern to alarm. Earlier in the day, Finance Minister Jim Flaherty had issued his own warning, and a half-dozen leaders of G20 nations, including Mr. Harper and British Prime Minister David Cameron, sent a leader to French President Nicolas Sarkozy, host of the next G20 summit, calling for “decisive action” to prevent another global recession. As Mr. Cameron visited the House of Commons in Ottawa, Mr. Harper welcomed him by noting both leaders were warning of a need for concerted action to avoid a downturn – with Mr. Harper emphasizing the need for deficit-cutting. “Neither of us will be accused of exaggeration, if we acknowledge that the most immediate test confronting us all is to avoid the devastating consequences of a return to global recession,” Mr. Harper said in a draft of his speech introducing Mr. Cameron in Parliament. “Without a commitment by governments to cut rising deficits and reduce what are, in some cases, dangerous levels of national indebtedness – without things such as these, we will not avoid such a recession.” In his speech to a joint session of Parliament, Mr. Cameron echoed Mr. Harper's call, saying the world needs to address the problem of excessive debt. "This is not a traditional, cyclical recession, it’s a debt crisis," Mr. Cameron said.

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