G8 Finance Minister Says Extra Liquidity Is Fueling Oil Speculation

Tuesday, October 13, 2009

"Italy's finance minister Saturday expressed concern that the big stimulus used by the Group of Eight leading economies to fight the recession was already recreating the kind of financial speculation that was at the root of the economic crisis.

Giulio Tremonti told a news conference at the end of a meeting of G8 finance ministers that financial speculation had returned, especially in oil markets, where prices have recently risen sharply, posing a threat to the recovery.

"Instead of financing the real economy, the extra liquidity in the system has this tendency to fuel speculation," Tremonti said." in the WSJ

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