It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
NEW YORK, Dec 3 (Reuters) - Bank of Israel Governor Stanley Fischer said on Thursday the world has to accept a weaker U.S. dollar in order to ensure the global economy recovers soundly.
"We also have to realize, what is hard to get across, there has to be a global rebalancing. Either the U.S. runs a very long period of recession, which is a really bad idea, or the dollar has to weaken, so that balance of payments can be straightened out," Fischer said in response to a question during a business breakfast in New York.
"So we have got to accept, as do other people, there has to be appreciation vis-a-vis the American dollar. Most people have kind of accepted that. It is just that when it gets out of line that people get nervous," he said.