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The Bank of Korea reduced its 2012 growth forecast for the country to 3.5 percent from 3.7 percent on April 16. “Korea is very well prepared to resist or face any unexpected shock” stemming from global uncertainty, Angel Gurria, the secretary general... Full Article at Bloomberg.com
G20 tax haven crackdown has ... largely failed ... Treaties have led to a modest relocation of bank deposits between tax havens but have not triggered significant flows of funds out of tax havens." That statement flies in the face of the G20's verdict... Full Article at Accountancy Age
Secretary-general of the Organization for Economic Cooperation and Development (OECD), Angel Gurria speaks during a press conference in Seoul on April 26, 2012. A rapidly ageing population and a widening income gap pose long-term challenges to South... View Photo »
In Japan, perhaps the sense of crisis is not strong enough to provide a better environment for change
(Nikkei)--On Apr. 26 in Seoul Secretary-General Angel Gurria of the Organization for Economic Co-operation and Development (OECD) spoke glowingly of South Korean economic policy, calling the nation's record a remarkable example of overcoming... Full Article at Nikkei News
The dire consequences of not changing how we move people and goods underpinned the conference. "Unless action is taken, I mean, unless action is taken now -- CO2 emissions from transport will skyrocket from a level that is already tremendously high,"... Full Article at The Huffington Post
The head of the club of the world’s richest countries said on Wednesday Japan needed to have a bigger “sense of crisis” about its financial predicament. Angel Gurria, the secretary general of the Organisation for Economic Cooperation and Development... Full Article at GulfToday.ae
South Korean Finance Minister Bahk Jae-Wan (L) and secretary-general of the Organization for Economic Cooperation and Development (OECD), Angel Gurria (R) pose for a photograph with an OECD economic survey before a press conference in Seoul on April... View Photo »
The average value-added tax in the OECD is 18 per cent
Angel Gurria, the secretary general of the Organization for Economic Cooperation and Development said Japan’s stratifying society and widening income inequalities need to be addressed. Gurria said the country’s woeful record on female employment was... Full Article at Japan Today
Organisation for Economic Cooperation and Development said yesterday. European officials need to boost economic growth with deregulation, education and environment-friendly technology, because there's little room to manoeuvre with fiscal policy and... Full Article at Gulfnews
"I don't think one can overestimate contagion," Gurria said on CNBC Asia's "Squawk Box" program from Japan. "Contagion is instantaneous, it is severe. It's like Ebola. Once you realize you got it, you have to cut off your leg in order to survive." "We... Full Article at CNBC
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In Japan, perhaps the sense of crisis is not strong enough to provide a better environment for change
The average value-added tax in the OECD is 18 per cent
We've run out of monetary policy room because interest rates are around zero
I don't think one can overestimate contagion ... Contagion is instantaneous, it is severe. It's like Ebola. Once you realize you got it, you have to cut off your leg in order to survive.
It is definitely not good news for anyone
We must build the mother of all firewalls ... The thicker and more impressive it is, the less likely it is that we will need it.
Everybody sees now that financial markets are attacking weak euro-countries. So we have to set up a mother of all firewalls. The bigger and more impressive it is, the less it is likely we will have to use it
If you move towards a more freely floating, a more fully convertible (currency), it doesn't happen all at once. If you move towards a system like that then you will have increasingly less distortions and you will have increasingly less tensions deriving from the value of the currency itself
The question is not about the currency, at least not the monothematic discussions we had last year or two years ago
The income of the highest 10 percent in OECD countries now is nine times of that of the lowest 10 percent, whereas 25 years ago the ratio was seven times
While the OECD has a unique focus on tackling the supply side of foreign bribery, we also recognise the need to deal with the receiving end of the corrupt transaction
We also need to make further progress in tackling the demand side of corruption
We worked with the World Bank, with the institutions that provide financing. Now, the machinery needs to be better coordinated, better oiled and at the same time, better informed of what the others are doing
Greener sources of growth can help governments today as they tackle these pressing challenges. Greening agriculture, water and energy supply and manufacturing will be critical by 2050 to meet the needs of over 9 billion people.
If we don’t take the challenge seriously we are on a collision course with nature and in the end, what needs to be done will take longer and cost more
Just as we were starting a recovery, confidence evaporated
This region has been a powerhouse in the American economy and the world economy for a long, long time
We still have to build the mother of all firewalls ... The thicker the firewall is, the less likely we'll have to use it.
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