Corona: Hildebrand criticized the lack of leadership of the USA

On each message to the Coronavirus, the stock markets react nervously. Although in many places the pipeline programs to the economic consequences. Open, however

Corona: Hildebrand criticized the lack of leadership of the USA

On each message to the Coronavirus, the stock markets react nervously. Although in many places the pipeline programs to the economic consequences. Open, however, is whether that's enough. It is also unclear whether U.S. President Donald Trump takes the effects of Coronavirus seriously enough. This is a question of experts not only health, but also economic.

Philipp Hildebrand, Vice-Chairman of Blackrock and former President of the Swiss national Bank, warned in an Interview with the news Agency Bloomberg in front of it to appreciate the Situation. For the US government to Donald Trump is too important. Because it is in desperate need of a coherent U.S. leadership, in order to prevent the panic in the markets turns into a further financial crisis in the style of 2008, the Ex-Central banker. "Whether we have the US leadership that we had in 2008, to create, is a big question," says Hildebrand to Bloomberg.

"have to work The markets"

A crisis could still be avoided if the political decision-makers willing and able to put up a coordinated fiscal and monetary response, said Hildebrand. The effects of Coronavirus can have a severe and profound impact on global economic growth.

"a recession Is avoidable?", the presenter asked. "There are times when political decision-makers can make a big difference," says Hildebrand. Now is a Moment to be so. There is a need, therefore, co-ordinated and to prevent far-reaching measures of the policy, there is a downward spiral.

"It is like a natural disaster, the state must help."Philipp Hildebrand

Because it would extend the crisis, could make a lot of small company seal and many workers lose their jobs, so Hildebrand. Many small companies have hardly any reserves. It is fast in a bad way, if the customer's absence a couple of weeks. "It is like a natural disaster, the state has to help," said Hildebrand.

A positive Signal, Hildebrand sees the fact that the stock exchanges have remained in spite of the fall on Monday open. "The markets have worked well," said Hildebrand. The exchanges would have been able to handle in spite of the strong fluctuations in the trade. Also, the index Fund, ETF would work. The financial products are repeatedly criticized because they would increase the herd instinct in the markets, since they ensure that many investors invest similar.

the question remains Open of whether the warning calls of Hildebrand be heard. It is already counted once as a positive Signal that he has invited the heads of the largest U.S. banks, to learn about the consequences of the Coronavirus to the U.S. financial space.

Created: 11.03.2020, 11:55 PM

Updated Date: 11 March 2020, 14:01

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