New Rules for Finance At Last
The G-20 must recognize that new rules for financial markets are just as important as fiscal stimulus measures in combating the global economic crisis. It would be counterproductive to focus only on the treatment of the symptoms and realize later that the unprecedented budgets for structural policies are neither economically efficient nor politically acceptable.
PARIS – The World Monetary and Economic Conference took place in London 76 years ago, in June 1933, with 66 countries meeting to put an end to the unfolding monetary disorder and trade wars while trying to draw the lessons of the Great Depression. When it was over, the negotiators admitted failure.