Australian Treasurer Swan: “We need developed economies to take the hand brake off growth that is coming from mindless austerity”

Australian Treasurer, Wayne Swan, in an interview with the Wall Street Journal has a blunt message:

• He criticized Europe as a “hand brake” on global growth
• And urged governments there to slow the pace of austerity
• Said we “need new sources of growth to come from developed economies”
• The G20 & developing countries should boost government spending to stimulate growth

Australia Criticizes ‘Mindless Austerity’ (gated)
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AUD/USD is flatlining today, 1.0380-ish and not doing much at all.