Thursday, October 16, 2008

globally accepted standards of supervision and regulation applied equally and consistently in all co

EU, US call for a global summit to reshape banking

"I believe there is scope for agreement in the next few days that we will have an international meeting to take common action ... for very large and very radical changes," Brown told reporters before meeting for talks on the financial crisis with other EU leaders, who on Wednesday endorsed a $2.3 trillion continentwide emergency bailout for the banking sector. "We now have global financial markets but what we do not have is anything other than national and regional regulation and supervision," Brown said. "The IMF has got to be rebuilt as fit for purpose for the modern world. We need an early warning system for the world economy." Brown's paper urges "globally accepted standards of supervision and regulation applied equally and consistently in all countries."

Posted by malct @ 08:29 PM (598 views)
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One thought on “globally accepted standards of supervision and regulation applied equally and consistently in all co

  • “We now have global financial markets but what we do not have is anything other than national and regional regulation and supervision,” Brown said.

    Clearly not a globalist.

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