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For George Osborne, in Washington, D.c. for his first IMF as Chancellor of the UK debate on the reform of the IMF's power structure must seem everyone has something of a lack of relevance photo: PA

If it proves with the Finance Ministers and Central Bank Governors in Washington this weekend for the annual meetings of the international monetary Fund (IMF) and World Bank.

Participants agree on the reform of the structure of the power of IMF - a fortiori monetary reform or political response to a slow recovery.

George Osborne, here his first IMF as Chancellor of the UK, it must appear to everyone has something of a lack of pertinence.La Britain is only a passive observer in the outbreak of the war of currency. With several departments expenditures to accept cuts, domestic issues are much more pressing.

In any case, the spirit of cooperation which saw nations gather two years ago to fight against the crisis seems to be all used until, and is now business as usual - or all Nations for himself.

In the past, the United States tend to be perfectly satisfied with this state of affairs.Multi-Nationalism is considered as a European indulgence and much of the waste.But this view has changé.Allé comfortable hypothesis that the American economy can shave its route irrespective of other.More that ever happening in the US economy is dependent on what is happening elsewhere.

Curiously, since the crisis began in America, the scale of economic contraction in the United States is also bad than many other advanced economies, but the increase in unemployment was worse.Unemployment is a big problem for policy makers as counterparts européens.Et there are differences in the trans-Atlantic on how to respond.

If while Europe urges fiscal austerity and monetary tightening, American debates the case for still more stimulus tax and monétaires.Les United States require also use a more realistic rate on the currency to maintain low exchange rate Chine.Manipulation force provides a huge blow to Chinese exports and is widely criticized at United States yawning trade deficit and the destruction of American jobs.

America was needed more than ever, international closer talon.Les Chinese support trade and capital imbalances which are at the heart of the financial crisis are back, but an international agreement on how to deal with is as far away as ever.

He had a good crisis which return its found international cooperation now fade because of "être.Mais with the spirit, he did bodes well, not much at all."

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