Month: June 2015

By Christine Kim SEOUL (Reuters) – The South Korean government on Monday said it is ready to take swift measures to counter the negative effects on its economy from an outbreak of a deadly respiratory disease, suggesting that worried policymakers may soon deliver monetary and fiscal stimulus. President Park Geun-hye said the negative economic effects from the outbreak of Middle East Respiratory Syndrome (MERS) should not be overlooked, while Finance Minister Choi vowed to take steps to offset any hit to growth. “The effect from MERS on private consumption cannot be overlooked as spending and tourism are quickly shrinking,” Park said on Monday during a visit to the MERS response headquarters.
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German Chancellor Angela Merkel said on Monday the leaders of the Group of Seven (G7) countries were ready, if necessary, to strengthen sanctions against Russia over its involvement in the Ukraine conflict. Merkel said the leaders want Russia and Ukraine to comply with a Feb. 12 ceasefire agreed in the Belarus capital Minsk that largely halted fighting in eastern Ukraine between pro-Russian separatists and Ukrainian government forces. “We are also ready, should the situation escalate, which we don’t want, to strengthen sanctions if the situation makes that necessary but we believe we should do everything to move forward the political process of Minsk,” she told the final news conference of a two-day G7 summit in Bavaria.
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