Googles chief executive Eric Schmidt, has stated that western governments that reducing their deficiets will be much harder than it will in america, solely due to the status of the dollar in the world reserve currency.
Mr Schmidt who was speaking ahead of the world economic forum at davos, which he is also a co chairman, stated that the era of "cheap money" in the US caused the crisis, and that banks should be strictly regualted to make sure that this never happens again and that we don't run up the levels of debts that we were able to acquire in 2008.
Mr Schmidt Statements can been seen as optimistic as last friday employment figures in the US reveled that another 85,000 people were out of work, dashing hopes of a quick return to growth in there employment market. He has also stated that britain is in a worse position than the US, as britain is unable to inflate its currency like the US can do, but to come back to the side of eurpoe and britain he also laid the blame on the economic crisis at the hands of america