Yesterday was the day of speeches for US officials which means a lot of reading for those of you interested in economics and politics.
It started with Tim Geithner
Then Ben Bernanke
And on a high note with Barack Obama
It was easy to guess what Bernanke and Geithner had to say. But the good surprise came from Obama who pushed for a 450 billion US dolars plan to create jobs and which most importantly emphisezes TAX CUTS.Obviously markets had a positive reaction to the speech. I am not sure it will be enough for Greece.
Cutting taxes is something that Romania should do soon. Not to the extent done in the US but as long as you keep the VAT a the current level you should lower income, profit and social contributions. I will come back to this subject in more details next week.