Fall of oil and other commodity prices has an impact on economic growth, Central Banks decisions and international affairs
A joint decision for a greener economy may enable us to better manage the timing of an economic adjustment, minimizing uncertainty and volatility, opening up new paths for growth. However, the transition will not be without difficulties and decisions on monetary policy in any case remain very intricate. Even if an agreement was found to slow global warming, the “temperature” in central banks remains very high.
In principle everybody agrees on the action points and on the suggested goals. But many of the goals will require a long time to be achieved and will involve a painful adjustment for some of the parties involved in the process. There is a timing element and an adjustment one to keep in mind. This is the case with goals such as solving the sovereign debt crisis, implementing structural reforms in certain countries, find new sources for growth, secure a sustainable, balanced and inclusive growth.
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