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  • From: Lynn Wigglesworth <lynnw1366 AT hotmail.com>
  • To: <homestead AT lists.ibiblio.org>
  • Subject: Re: [Homestead] New Bretton Woods ?
  • Date: Fri, 10 Oct 2008 13:44:11 -0400


Global economy is so far over my head...is this a good thing or a bad
thing? I tend not to like 'globalization' of anything, but what do I know?

Lynn Wigglesworth

bob ford wrote:
> The first paragraph is possibly ominous, depending upon a person's
> interpretation ....bobford
> ------------------------------------------------------------------------
>
>
> UPDATE:Italy PM: Global Rewrite Of Financial Rules Being Mulled
>
>
>
> (Recasts, adds details, background.)
>
> ROME -(Dow Jones)- Italian Premier Silvio Berlusconi Friday said world
> leaders were mulling to rewrite global financial rules to stem the
> spreading financial market crisis.
>
> Berlusconi told a press conference that leaders were considering to suspend
> global markets as they rewrite the rules, but later backtracked and said it
> was simply rumors.
>
> "There are several options, but I think the will to rewrite international
> financial rules is quite advanced and shared," Berlusconi said when asked
> what measures world leaders were discussing to tackle the crisis.
>
> "There are discussions about a new Bretton Woods. There are discussions
> about suspending markets for the time that is needed to rewrite the rules,"
> he added.
>
> The Italian premier later told reporters that no leader had ever proposed
> to close markets and that it was "just a rumor that's been circulating for
> some time."
>
> Top officials from the world's leading nations met at Bretton Woods, New
> Hampshire, in 1944 to create a new international monetary system. Because
> the United States at the time accounted for more than half of the world's
> output and had most of the world's gold, the leaders decided to tie world
> currencies to the dollar.
>
> Finance ministers from the Group of Seven leading industrial nations
> meeting in Washington D.C. Friday and this weekend must embrace a "concrete
> plan" to support the financial system, a group of prominent economists said.
>
> Berlusconi said the financial crisis needed a global response, adding
> European Union leaders may meet in Paris Sunday and G8 leaders soon after
> to discuss what can be done to stop it.
>
> -By Luca Di Leo, Dow Jones Newswires; +39 06 69766921;
> luca.dileo AT dowjones.com
>
>
>
> (END) Dow Jones Newswires
> 10-10-081120ET
> Copyright (c) 2008 Dow Jones & Company, Inc.
>
> http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20081010%5CACQDJON200810101120DOWJONESDJONLINE000654.htm&&mypage=newsheadlines&title=UPDATE:Italy%20PM:%20Global%20Rewrite%20Of%20Financial%20Rules%20Being%20Mulled
>
>
>
>
>
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>
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