Yalta, Ukraine October 2 (Interfax-Ukraine) - The global financial system could again face currency wars, which is linked to the fall in international cooperation reached in crisis periods and allowed avoiding possible worst crisis consequences, according to International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn.
"Currency wars are returning," he said at the seventh annual meeting in Yalta on Saturday.
He took China and a recent statement of Brazil as examples.
Strauss-Kahn said that this way is unpromising, as an attempt to support export through currency devaluation in one country would hit on similar response in other countries.
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Posted by: V07768198309 | October 05, 2010 at 09:52 PM