Bill Clinton: “Actually we did. I'd let the Prime Minister answer that, but we've talked a lot about how the United States, Japan, and…”

“Actually we did. I'd let the Prime Minister answer that, but we've talked a lot about how the United States, Japan, and Europe all have obligations to try to get the growth rate up and what each of us needs to do. And we talked about how that plus a system of expanded trade could reward Spain for all the changes that you have made and generate more jobs. Actually, the Spanish experience has been quite impressive in the growth you've had until the global recession of the last couple of years. So we've got to get out of that, and we have to do that, it seems to me, with a coordinated economic strategy. Mr. Prime Minister. Prime Minister Gonzalez. Well, first of all, let me stress that we fully agree on the need for coordination, coordination of the developed world, the countries of the developed world, in order to overcome an economic crisis and promote growth and create jobs. Coordination is even more important if you take into account that the economy is becoming globalized, so we need coordination. We agree that successful GATT negotiations leading to agreement will be positive, and I think we agree on certain specific current policies such as coordination for lowering interest rates in Europe in order to spur investment and thus contribute to restarting the European economy. I think we are well aware that growth, growth even in powerful, large countries like the U.S., if it isn't carried out in coordination and collaboration with other countries such as Europe and Japan, will encounter greater obstacles than it would with good coordination. So, that is quite clear, and I think that's the way out of a recession. Somalia”