Identifier
Created
Classification
Origin
06SANTIAGO222
2006-02-01 18:21:00
UNCLASSIFIED
Embassy Santiago
Cable title:
MEDIA REACTION - GLOBAL ECONOMY: GREENSPAN'S LEGACY
how-toVZCZCXYZ0001 RR RUEHWEB DE RUEHSG #0222 0321821 ZNR UUUUU ZZH R 011821Z FEB 06 FM AMEMBASSY SANTIAGO TO SECSTATE WASHDC 8386
UNCLAS SANTIAGO 000222
SIPDIS
SIPDIS
STATE FOR INR/R/MR, I/PP, WHA/BSC, WHA/PDA, WHA/EPSC STATE FOR
INR/IAA, PM, INL
E.O. 12958: N/A
TAGS: OPRC KMDR KPAO CI
SUBJECT: MEDIA REACTION - GLOBAL ECONOMY: GREENSPAN'S LEGACY
On February 2, conservative, influential newspaper-of-record "El
Mercurio" (circ. 116,807) ran an editorial "Greenspan's Legacy."
Quote:
"In the last two decades the world's economy has experienced a
vertiginous transformation which has as its common denominators a
growing integration and globalization and an increasing and
unprecedented productivity growth. The increased international trade
flow has helped nations better use their comparative advantages, a
key element for future growth.... No one intends to credit outgoing
Fed Chairman Alan Greenspan for the new global framework but one
cannot fail to recognize his role in creating the conditions to
maintain relative stability.... Perhaps Greenspan's greatest legacy
is strengthening the Federal Reserve's credibility, a fundamental
element for inflation control programs."
KELLY