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'United States losing its global influence': Borg

'United States losing its global influence': Borg

Published: 23 Apr 2012 07:59 GMT+02:00
Updated: 23 Apr 2012 07:59 GMT+02:00

Sweden's finance minister Anders Borg warned at the weekend that the United States was losing its influence on the global economic stage.

Borg's comments came after the world's wealthiest nations – but not the United States – pledged billions to an International Monetary Fund (IMF) bailout fund.

"It undermines the influence of the United States in the fund and in the global economy," Borg told the TT news agency.

The eurozone debt crisis was high on the agenda during a spring meeting of the world's most powerful finance ministers and central bank heads.

"The tougher discussions are focused on Europe and the uncertainty in the Spanish banking system," Borg said during a conference call with reporters in Sweden on Sunday.

On Friday, the G-20 group of countries pledged $430 billion to strengthen the IMF crisis fund, more than the $400 billion requested by IMF head Christine Lagarde.

While emerging economies such as Russia and China are among countries that contributed to the fund, the United States hasn't pledged any more commitments to the IMF.

The most generous of the crisis fund donors are among the eurozone countries which together have pledged $200 billion.

Sweden, meanwhile, has agreed to donate $10 billion.

"The Nordic and Baltic countries have had the strength to step forward in this situation. For a little country like Sweden, it's important to show that we're are a part of the global economy," said Borg.

"We have the muscle left to take certain measures. Sweden is held up as a role model."

TT/The Local/dl

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Your comments about this article

08:34 April 23, 2012 by entry
If this is true, I would like to see the USA's lack of participation in the IMF bailout increase by orders of magnitude with an identical policy replicated with regards to the Untied Nations. Distance from open sewers is always advisable.
09:30 April 23, 2012 by sleezypornorangutang
"Sweden, meanwhile, has agreed to donate $10 billion."

Is the term "donate" there volutarily, 10B seems an awful lot to just throw away...I wonder, how much interest you will pay for this, or can you throw this 10B out of your coffers?
09:36 April 23, 2012 by bourgeoisieboheme
Well do you wonder why the US doesn't want to support the IMF? So they can help Greece and maybe Spain, Portugal, etc. get bailed out again and again? It's like loaning money to a drug addict. Think of all the good this money could do in the poor parts of the world. I don't blame the US for refusing to support dragging out the pain and dumping money in these flagging economies..
09:39 April 23, 2012 by HYBRED
What a crock. The US contibutes the most to the IMF. The IMF's own figures show the US contibuting 17.1% of the funds. The second most contributing country is Japan at 6.1%.

I was out to the stable yesterday, I lifted a pony's tail and guess what I saw?
10:19 April 23, 2012 by sleezypornorangutang
Well, I suppose it would be nice to have the metro running 24/7, but it is not for free. Funny thing is, that infrastructure in the US is built on cheap gas only. You still pay so much less for gas than the rest of western world.

That should leave you with a bit of extra to throw around in some bailout fund. But no. Still you´re broke, people sit in traffic jams in their huge SUV:s like some damn zombies, as if addicted, looking like duogh balls, getting liposuction on their way to wall mart´s.

Is there ANY nation more dumb than that? Give me that fat, I´ll turn it into some fudge and throw a nice label on it. You´ll probably eat that stuff for 10 years, until someone finally takes you fat dildos by the hand and tells you how it is.
10:40 April 23, 2012 by bourgeoisieboheme
And people don't stand in the T-Bana like zombies?

I thought this discussion was on the fiscal discretionary spending of the US, not a commentary on why the US is so bad and evil and it's people are zombies because the government only taxes gas and diesel at a rate that makes it affordable due to the massive size of the country. So before you bash a country you don't live in our know little about, let's get back to the subject at hand.

HYBRED was correct, the US does give more to the IMF than any other government so let's do some homework first eh?
10:44 April 23, 2012 by HYBRED
So the American's don't have a big tax on gas and thats a bad thing? Since the IMF money comes from tax money collected from citizens, the Europeans should be funding about all of the IMF fund since they pay extremely high tax's.
11:36 April 23, 2012 by eppie
Anyway, all the money the US puts in is China's anyway.
12:05 April 23, 2012 by Scambaiter
How did the forums of the Local.se get infested by anglo-saxon Tea Party activists and Internet crawlers? Do all these jokers live in Sweden?

Not sure where the headline "United States losing its global influence'" comes from because Borg's actual words appear to be "It undermines the influence of the United States in the fund and in the global economy". Sounds accurate to me.

Fact = The US global influence is in decline, anyone with an elementary understanding of macro-economics understands that. You can't go on starting expensive wars, printing money and exploiting the resources of smaller countries for ever, so stop squawking about it.
14:04 April 23, 2012 by bourgeoisieboheme
How did the forums of the Local.se get infested by Anti-American Communist Party activists and Internet crawlers? Do all these jokers live in Sweden?
17:18 April 23, 2012 by rise
#4

"I was out to the stable yesterday, I lifted a pony's tail and guess what I saw?"

HAHA!! :D Hilarious!
17:42 April 23, 2012 by sometimetoquestion
The day the dollar die. All forms of money will be rationalized away. I the most backing for any economy is on weapon technology and its expansion it must fail. Since what has described certainty of intelligence has been maligned for an agenda that due to its short sightedness could not see a close as soon as it manifests.

That CNN employees at the first gulf war was comprised of formerlly laid off defence workers. Considers shortly thereafter would be suitable as an unofficial government spokesperson. Thats exactly how we the masses had to be lured into the rhetoric and propaganda peddled as news. While alot goes unsaid in these medias alot is being done to concretesize the lies and estalish a new world order of 10 percent fed brains.

Consider the logics of US debt. To a private company. for printing the currency? Is that legal or seem sensible for a country that much else is extremely independant on production of goods. Why not the money and why the intrest set up as it is? Well my guess is there is something new the company formally selling papper money have something new like the "rice-chip"

Spooky that this is prophecy Rev 13

It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17 so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.

18 This calls for wisdom. Let the person who has insight calculate the number of the beast, for it is the number of a man.[e] That number is 666.

Blessup
18:18 April 23, 2012 by Puddi
#3 - Ever heard of the Marshall plan? If it wasn't for international aid, none of our Western-European economies would be anything like they are now. I am not at all fanatically pro-American, and I recognize the fact that they rebuilt Europe financially mainly for their own economical and strategic purposes after WWII, but matter of fact remains that they invested huge amounts of money into various European economies. The current bailout fund for Eurozone states are just another Marshall plan, basically.

And there's plenty of examples to be had, sometimes on a regional scale, sometimes on a national, European or global scale. In Belgium, the current, rich North was once dependent on the South; now it's the other way around. And that's how it goes for every single country, including the US, including Sweden. So no, it's not about helping "drug addicts", it's about promoting global growth and welfare.

Additionally, consider the fact what happens if we tell the PIIGS countries to solve their own problems. Mass immigration, debts that can't be paid which results in the spreading of the crisis to all other European countries, political tensions between European states,... There are absolutely NO benefits in allowing a country such as Greece to go bankrupt. You don't pay tax money for "lazy Greek people", you pay for the future of your own economy--unless you plan on living in a state that is completely independent, which is unsustainable.
22:44 April 23, 2012 by Jeff10
Let's see: The peoples of the Nordic/Scandia countries, Japan, the US, Germany, the UK, Russia, and China are supposed to work off their behinds so that the people of the PIIGS, especially the Greeks, may and can retire at age 55 or so.

Yeah, sure, yeah, okay, gee, Uncle Sam, better cut that check before the Swedes deem the US a declining power, notwithstanding that the US economy is about 15 times or so larger than the Swedish economy.

Sheesh, how 'about this: The PIIGS pay taxes and live within their means and people work to age 65. In the US, the Social Security retirement age is now 66 and going to 67 in a few years, both on a phase in basis. But, heaven forbid that the peoples of the PIIGS can't retire at age 55.
00:32 April 24, 2012 by Scambaiter
It's not "Anti-American" to criticize the US for starting expensive illegal wars, printing money and exploiting the resources of smaller countries...it's just a statement of fact.

All empires fall in the end.

PS.."rise" is easily amused.
02:04 April 24, 2012 by Jeff10
@ Scambaiter:

Sure, you're right. The US needs to engage in inexpensive, illegal wars. So, then you'd be happy, right? Certainly, there's much to be said about frugality.

"...[E]xploiting the resources of smaller countries" is a statement of fact in your mind? Sheesh. Don't you think it reads as more of an opinion than as a fact? Here's another 'statement of fact': The US doesn't exploit anyone or any nation - people and nations are free to make their own decisions as to whether or not they will trade with the US.

Ah, this just in, at least in your world Scambaiter, printing money is being done by all nations right now. EU, Japan, China, etc. So, why is it bad when done by the US?

Hey, cheers, pal.
06:55 April 24, 2012 by sometimetoquestion
Comment: Heard of George Carlin

George Carlin - The Owners of America on youtube

Very insightful and this man was kickin up dust long time ago

blessup
07:18 April 24, 2012 by rise
#15

"PS.."rise" is easily amused."

No, to bad I'm not. :( But when completely absurd I can't help it but laugh. The more bizarre the funnier. :) Did you even understand HYBRED's joke? ;) Hint: Borg has a ponytail.
07:26 April 24, 2012 by Scambaiter
Oh sorry, Jeff...did I hurt your feelings?

The forum of the local.se fills up with the usual condescending American teapot rattlers spouting nuggets like "I lifted a pony's tail and guess what I saw?" so it's hardly surprising that people react.

How big is the US deficit now exactly?...and how was it incurred? Who owns the debt? Which country was on the brink of bankruptcy just last year due this deficit and its squabbling politicians? Which country was responsible for the recent global financial crisis? Whose currency has until recently been universally accepted as the global currency? Which country and its intelligence agency was the driving force behind the invasion of Iraq? On what basis was it invaded?

etc etc

"You're either with us or against us"
08:59 April 24, 2012 by Marc the Texan
Excuse me while I try to stop laughing. The US is doing Europe's current creditors a huge favor by not adding further debt obligations and pushing the latest creditors further down the mezzanine.

The Euro is Kaput. They've dawdled too long. Never even come close to making the structural changes needed to save it. The longer they try to hang on to the Euro, the more devastating the death blow will be. Capital is fleeing the Eurozone faster now than ever before. If your assets are in Euros, get ready to feel very, very poor. You too Germany.

As for the US economy. It's roaring back stronger than ever before, although still early in stages. Manufacturing is returning to the US and domestic energy is growing at the fastest rate in decades. When these developing countries flatline and they are all racing towards flatline, especially the BRICs; the world will see how resilient and dynamic the US economy is. Investors already know this, as global capital is oozing out of global markets and flooding into the US.
09:04 April 24, 2012 by Camlon
You know another place that is losing influence even more rapidly. That's Europe, including Sweden.

This case got nothing to do with US influence. IMF is managed by a French lawyer, Americans are not interested in bailing out Greece, and they have elections soon.

Losing European support is not the same as losing influence. Other countries outside Europe will probably do the same in the future, when France collapses.
11:54 April 24, 2012 by smilingjack
the one thing I can say is that as a 12 month visitor to sweden Ive never seen such USA sycophancy before. Nearly every store in stockholm has a USA flag somewhere in the shop window. swedes wear yank flag shirts, scarfs and jumpers. they sell yank flag cushions, lounges and pillows. You have no culture so have embraced theirs. 7/11's, burger king and texas steak houses. your tv is all b grade american rubbish. How embarrassing.

No wonder Julian Assange is worried about being deported here. Sweden is a yank whore. I go for walks with my wife and play how long until we spot an american flag. I think 30 seconds is the record. there are more american flags here then swedish flags. very sad. usa loses its influence - not here.
14:48 April 24, 2012 by Lukestar1991
The bottom line is, the less influence dictatorships like the US have on the world, the better in the long run.
19:52 April 24, 2012 by Jeff10
@ Lukestar:

Wow, what a profoundly intellectual statement. Yes, the countries that need to exert more influence are those liberty loving countries such as Russia, China, Venuzuela, Cuba, pretty much any arab country.

On the other hand, from your statement, Mr. Lukestar, it's quite clear that you agree 100% that US influence is better for the short term. For this patriotism, we Americans salute you, because we know that you're behind is 100%, for the short term.
15:21 April 25, 2012 by Lukestar1991
@ Jeff10

Ah, yes. Indeed it was. You see, well, I'll put it simply for you. Malcolm X - oh have you ever heard of him? As a 'patriotic' American I assume you have.

- He once said: 'I have more respect for a man who lets me know where he stands, even if he is wrong, than a man who appears as an angel but is nothing but a devil'

A men to that ;)

Thats basically sums up the the bitch that is the US establishment. It STILL acts all sparkling and just, even though all it cares about is using and abusing.

The governments of those countries are no better, only they are so crooked they'll never be able to pretend that they are anything different. They arent fooling anyone.

The US exists out of fooling everyone.

That is its purpose in life.

The US establishment = one big ugly lie.
20:11 April 25, 2012 by Coalbanks
Some of the EU states may have to fall out & suffer for a generation until they have the economic means to rejoin. USA may be in a similar position but it won't recover in only one generation. World-wide economic slump is not over - the next recession is on the way for the states that recovered, others never got over the last one - sounds like fun, eh? EU has to becomemore economically & fiscally sound. May mean an end to some of the social services ie retirement at 55 yrs, totally free health/education but how else?
20:30 April 25, 2012 by Jeff10
@Lukestar:

Huh? Have you ever heard of the expression, "Put your money where your mouth is?" Well, it means that actions govern over words. So, let's look at actions.

No doubt, we'd both agree that people vote with their feet and that this is action. For example, when people don't like a country, they may choose to leave it and when they like a country, they may choose to move to such a country of their liking.

Well, well, well, Lukester-boy, more people not only immigrate to the US, but want to immigrate to the US. Yes, my friend, get in line for a work VISA in the US. It'll be a bit of a wait, because the US overwhelming is the destination of choice for most people of the world.

As for you comparing the US to dictatorships, you only exposed yourself as a naive, pseudo-intellectual, armchair philosopher. Yes, N. Korea, China, Russia, Cuba, Venezuela, etc. are more moral than the US, at least in your eyes, b/c they openly are anti-human rights. Sheesh. Do you even believe your dribble?

As for Macolm X, he was an ex-con, a thug, and a criminal, who, not surprisingly, met a fate common ror those with such traits.

Hey, you're welcomed, I'm always available to educate uninformed fools.
21:28 April 25, 2012 by Sheba
@ Jeff you have cotton nothing between your ears....racist pig talking trash about Malcom X...U.S of Racism.....even in 2012...
02:00 April 26, 2012 by Jeff10
@ Sheba:

Thank you ever so much for taking time to respond to my post. To return the favor, I'm quite willing to provide to you the names of educational institutions that offer remedial English lessons.

Hey, no need to thank me.

Wtih love and affection goin' in your direction,

Jeff
03:56 April 26, 2012 by LordCthulhu
I was going to argue but, when it comes to Borg, resistance is futile.
09:34 April 26, 2012 by idelling
"A healthy nation is as unconscious of its nationality as a healthy man of his bones. But if you break a nation's nationality it will think of nothing else but getting it set again. I twill listen to no reformer, to no philsopher, to no preacher, until the demand of the Nationalist is granted. It will attend to no buiness, however vital, except the business of unification and liberation." - George Bernard Shaw
14:42 April 26, 2012 by ElGuapoGuano
We've already contributed enough to Europe's lost cause states. LEARN TO MANAGE YOUR OWN FRICKIN' MONEY!!!!!! The U.S. has already bailed out enough crooks and thieves (aka bankers) for the next millenia

No matter what you say Borg, Resistance is NOT futile. We will never join your Collective
02:35 April 27, 2012 by kg2095
sleezypornorangutang, you might want to learn to spell before you accuse others of being stupid. Also, you might want to so some research - the US is not the only place in the world affected by obesity, consumerism or congestion. In fact it is not even the fattest country in the world. But you actually knew these things didn't you?
00:12 April 28, 2012 by Lukestar1991
@Jeff10

How predictable you are!

'As for Malcolm X, he was an ex-con, a thug, and a criminal, who, not surprisingly, met a fate common for those with such traits.'

That was EXACTLY what i thought you would say. ;) Oh well, thats America for you! And as for educating uninformed fools, thats the problem with wanna-be US intellectuals like yourself; you think its your vocation to be a 'pain in the ass'

Oh, and can you catergorically state, as an American and everything that that term so magnificently denotes, that him being a thug and criminal in your eyes has nothing to do with his race and sexual orientation??

*Wink Wink*
01:52 May 1, 2012 by Jeff10
@Lukestar1991:

Hey, Lukey, thanks for the reply and here are some free Engligh-language usage tips:

1. Your first paragraph. Never end a sentence with a verb.

2. Your third paragraph: So, are you suggesting that I 'wannabe' a US citizen or that I 'wannabe' a US intellectual? I thought that it's quite clear that I am an American. Perhaps it more appropriately could be re-worded along the lines of: 'As an American wannabe intellectual...'. I won't even discuss your misuse of the word "like" in this paragraph.

3. Your fourth paragraph: Well, since we both agree and acknowledge that I'm an American, I just don't understand how I could "categorically" or othewise, make any statement as other than an American. Am I missing something? Is it possible for me to temporarily renounce my US citizenship, so that I might make a categorical statement as other than an American?

4. And more on your fourth paragraph: Dr. Manning Marable's book on the life of Malcolm X pretty much has been discredited or adequately disputed by those with much knowledge of Malcolm X's life. So, does his race have anything to do with my description of him? The answer is no. I also consider Tim McVeigh a murder, criminal, and a thug, many more degrees worse than Mr. X. Does Mr. McVeigh's race have anything to do with my opinion? I would say no. What say you?

Hey, cheers, and don't hesitate to contact me if you were to find yourself in need of further remedial English lessons.

With all of my love,

Your good friend and mentor
19:46 June 1, 2012 by Tarc the Mexan
The United States is a reactionary theocratic dictatorship that's bound for bankruptcy within the next few decades. Good riddance.
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