He reckons that the ABS purchases can help address the problem of credit to small and medium businesses. He’s right, as long as small and medium sized actually want to borrow, which they don’t.

  • Says IMF favours infrastructure investment in Europe
  • Japan must have fiscal consolidation to sustain growth
  • Yen depreciation hasn’t yet led to big export gains
  • Japan must continue expansionary monetary policy

He’s going to be blathering on for quite a while so we’ll cherry pick the comments.