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EU, US call for a global summit to reshape banking, thoughts?

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posted on Oct, 15 2008 @ 06:41 PM

BRUSSELS, Belgium - The Group of Eight major industrial nations announced Wednesday they will hold a global summit — perhaps as early as November in New York — to forge common action to prevent another economic meltdown.

French President Nicolas Sarkozy said all European Union nations backed radical restructuring of global institutions like the International Monetary Fund and World Bank. He called for a meeting "preferably in New York, where everything started" and said it should lead to "a new capitalism."

Sarkozy said emerging economies such as China, India and others outside the G-8 should also participate because "no one should feel excluded from what we are recasting."

EU leaders meeting in Brussels "all agreed that we don't want the same causes to produce the same effects in future," the French leader said. "We don't want all this to start again; we want lessons to be learned."

British Prime Minister Gordon Brown said the meeting would require vision similar to the creation of the United Nations and the Bretton Woods conference that laid out the post-World War II international financial and monetary system.

The G-8 leaders said in a joint statement released by the White House that they were united in their commitment to change the regulation of the world's financial sector to restore confidence and "remedy deficiencies exposed by the current crisis."

more at the link above...

I'm looking for opinions on the mentioned meeting.

posted on Oct, 15 2008 @ 07:01 PM
And behind curtain number 3, tell them what they have collectively won, Johnny.

You win another rung on the ladder to globalization and a capitalist new world order.

I would say get out, but unless you are an astronaut, you are stuck in this quadmire. The only thing left to do is turn cannibal and head to new guinee.


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