1231 (GMT+04:00) - 09/07/09
Will the G8 summit to adopt a tough global financial system?
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Dubai, United Arab Emirates (CNN) - Participants in the attached Group of Eight summit and the G8, which started in Italy on Wednesday, a set of expectations on the group, to establish new policies that would help in the global economy out of its current crisis.
Among the many files, are such topics as international trade and financial systems, the list of priorities for the meeting, which includes countries with the richest country in the world, and perhaps most affected by the crisis that swept the global economy.
It is expected from the summit are concerned, the adoption of a plan to tighten financial regulations in order to prevent the recurrence of the global financial collapse, what will perhaps, in determining the course of the economic system a series of new international rules and conventions.
Have not yet been determined that the features of the financial plan, but it certainly will be more stringent and severe, in order to prevent the recurrence of major crises such as the mortgage crisis and the problems of liquidity and cash flows for the banks.
Italy has proposed, the host of the summit, in a recent meeting between Italian Prime Minister Silvio Berlusconi and U.S. President Barack Obama, a plan of strict financial criteria for the adoption of stringent legal regulation of the financial sector worldwide. "
The finance ministers from the Group of Eight meeting, saw the middle of June last, the massive economies in the world have started to stabilize, which prompted the experts to warn of "a recovery," which may lead to further distress.
At their meeting in Italy, noted Minister of Finance to the rise in stock market indices and the stability of interest rates and the return of consumer confidence, but warned that the United States to the minister of treasury Tim Gitnr that "it is still too early to stop the plans of economic stimulus."
The ministers at their meeting, which is in preparation for the future, that the global economic situation "remains foggy," said in their communiqué that they had taken "strong and coordinated action to support the stability of the financial sector and provide incentives for the restoration of growth."
Many wanted to from the top eight to reach clear decisions and effective, can make a difference on the ground and the optimism, and sends signals to catalyze the market, as it emerged from the summit of the twentieth held in London last April.
The summit of the Group of Twenty-approved plan to revive the global economy is the biggest ever, by pumping a trillion dollars, of which 500 billion dollars will be submitted to the International Monetary Fund, in addition to 50 billion dollars in the form of direct assistance to the poorest countries.
The British Prime Minister Gordon Brown, that the leaders of countries participating in the summit acknowledged the financial incentive plan, which also includes the allocation of 250 billion dollars to banking institutions, with a view to promoting policies and budgets of the lending banks.
The plan also includes, according to Brown, to provide 200 billion dollars to boost global trade, pointing out that it is expected that the total amounts that will be pumped global economics, to about five trillion dollars, by the end of next year 2010.
If successful, the Group of Eight summit to adopt the global financial system is governed by strict controls, and more stringent oversight, it would send a strong signal to markets that the crisis that has ravaged the world economy, it will not happen again.
http://translate.google.com/translat...history_state0=
Will the G8 summit to adopt a tough global financial system?
---------------------
Dubai, United Arab Emirates (CNN) - Participants in the attached Group of Eight summit and the G8, which started in Italy on Wednesday, a set of expectations on the group, to establish new policies that would help in the global economy out of its current crisis.
Among the many files, are such topics as international trade and financial systems, the list of priorities for the meeting, which includes countries with the richest country in the world, and perhaps most affected by the crisis that swept the global economy.
It is expected from the summit are concerned, the adoption of a plan to tighten financial regulations in order to prevent the recurrence of the global financial collapse, what will perhaps, in determining the course of the economic system a series of new international rules and conventions.
Have not yet been determined that the features of the financial plan, but it certainly will be more stringent and severe, in order to prevent the recurrence of major crises such as the mortgage crisis and the problems of liquidity and cash flows for the banks.
Italy has proposed, the host of the summit, in a recent meeting between Italian Prime Minister Silvio Berlusconi and U.S. President Barack Obama, a plan of strict financial criteria for the adoption of stringent legal regulation of the financial sector worldwide. "
The finance ministers from the Group of Eight meeting, saw the middle of June last, the massive economies in the world have started to stabilize, which prompted the experts to warn of "a recovery," which may lead to further distress.
At their meeting in Italy, noted Minister of Finance to the rise in stock market indices and the stability of interest rates and the return of consumer confidence, but warned that the United States to the minister of treasury Tim Gitnr that "it is still too early to stop the plans of economic stimulus."
The ministers at their meeting, which is in preparation for the future, that the global economic situation "remains foggy," said in their communiqué that they had taken "strong and coordinated action to support the stability of the financial sector and provide incentives for the restoration of growth."
Many wanted to from the top eight to reach clear decisions and effective, can make a difference on the ground and the optimism, and sends signals to catalyze the market, as it emerged from the summit of the twentieth held in London last April.
The summit of the Group of Twenty-approved plan to revive the global economy is the biggest ever, by pumping a trillion dollars, of which 500 billion dollars will be submitted to the International Monetary Fund, in addition to 50 billion dollars in the form of direct assistance to the poorest countries.
The British Prime Minister Gordon Brown, that the leaders of countries participating in the summit acknowledged the financial incentive plan, which also includes the allocation of 250 billion dollars to banking institutions, with a view to promoting policies and budgets of the lending banks.
The plan also includes, according to Brown, to provide 200 billion dollars to boost global trade, pointing out that it is expected that the total amounts that will be pumped global economics, to about five trillion dollars, by the end of next year 2010.
If successful, the Group of Eight summit to adopt the global financial system is governed by strict controls, and more stringent oversight, it would send a strong signal to markets that the crisis that has ravaged the world economy, it will not happen again.
http://translate.google.com/translat...history_state0=