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15. To this end we are implementing the Action Plan agreed at our last meeting, as set out in the attached progress report. We have today also issued a Declaration, Strengthening the Financial System. In particular we agree:
• to establish a new Financial Stability Board (FSB) with a strengthened mandate, as a successor to the Financial Stability Forum (FSF), including all G20 countries, FSF members, Spain, and the European Commission;
• to endorse and implement the FSF's tough new principles on pay and compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms.
The new Financial Stability Board could be seen as an embryonic global watchdog – or as another slow-moving collection of regulators. The attack on "rewards for failure" comes straight from the court of world public opinion, although as usual there are few specifics. Tax havens also come under attack but what the "sanctions" primed by the G20 will be remain to be seen.
According to respected industry magazine Police Review, the plan - which affects all 31,000 serving officers in the Met, including Sir Ian Blair - is set to replace the unreliable Airwave radio system currently used to help monitor officer’s movements.
The new electronic tracking device - called the Automated Personal Location System (APLS) - means that officers will never be out of range of supervising officers......
........One officer, working in Peckham, south London, said: “They are keeping the exact workings of the system very hush-hush at the moment - although it will be similar to the way criminals are electronically tagged. There will not be any choice about wearing one.
Bilderberg has had front-men call anew for creating a global currency and establishing major European Union-style regions for the administrative convenience of a planned world government. Both steps were taken in September, one by the new Bilderberg-crowned prime minister of Japan and one separately by the UN.
The Geneva-based UN Conference on Trade and Development (UNCTAD) called for a global currency in a report made public on September 7. UN countries should agree on a global reserve bank to issue the currency and to monitor the national exchange rates of its members, UNCTAD said. The dollar’s role in international trade should be reduced to protect emerging markets from the “confidence game” of financial speculation, it said.