Finance




the IMF tells richer Nations: greater Urgency is needed to stop Climate Change - the Guardian: LINK ¤ the GUARDIAN

_________________________________________

 

  • "the International Monetary Fund - IMF - has warned the world’s richest nations !!!"

 

 

 

 

 

 

 

_________________________________________

  • "to have a greater sense of urgency about climate change !!!!!"

 

 

 

 

 

 

 

 

 

_________________________________________

  • "the IMF’s latest World Economic Outlook - WEO - released overnight"

 

 

 

 

 

 

 

_________________________________________

  • "it calls on the global community - to mitigate greenhouse gas emissions !!!"

 

 

 

 

 

 

 

 

_________________________________________

  • "saying, richer countries must help low-income economies !!"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • "nations with developed economies have a responsibility to act  !!"

 

 

 

 

 

 

 

_________________________________________

  • "and only collective action and multilateral cooperation can effectively address it !!!!!"

 

 

 

 

 

 

 

 

 

_________________________________________

  • "priorities for mutually beneficial cooperation - include improving financial regulation !!"

 

 

 

 

 

 

 

_________________________________________

  • "enhancing the global financial safety net !! - reducing international tax avoidance !! - fighting diseases  !"

 

 

 

 

 

 

 

_________________________________________

  • "mitigating greenhouse gas emissions !!!!!!"

 

 

 

 

 

 

 

 

_________________________________________

  • "and helping poorer countries !!!!!!!"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

______________________________________________________________________________

IMF Chief: Banks haven't changed since Financial Crisis - the Guardian: LINK ¤ the GUARDIAN

_________________________________________

 

  • "Christine Lagarde told that eight years on from the deep financial crisis that engulfed the global economy"

 

 

 

 

 

 

_________________________________________

  • "banks were resisting reform !"

 

 

 

 

 

 

 

_________________________________________

  • "and are still too focused on excessive risk taking !!"

 

 

 

 

 

 

 

_________________________________________

  • "to secure their bonuses at the expense of public trust  !"

 

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • "the behaviour of the financial sector has not changed fundamentally in a number of dimensions since the crisis"

 

 

 

 

 

 

_________________________________________

  • "the industry still prizes short-term profit over long-term prudence !"

 

 

 

 

 

 

 

_________________________________________

  • "today's bonus over tomorrow's relationship"

 

 

 

 

 

 

 

 

_________________________________________

  • "Lagarde warned the too-big-to-fail problem among some of the world's largest financial institutions"

 

 

 

 

 

 

 

_________________________________________

  • "was still unresolved !"

 

 

 

 

 

 

 

 

 

 

 

_________________________________________
  • "Lagarde told the inclusive capitalism conference"

 

 

 

 

 

 

_________________________________________

  • "that rising inequality was also a barrier to growth !"

 

 

 

 

 

 

 

_________________________________________

  • "and could undermine democracy and human rights !"

 

 

 

 

 

 

 

 

_________________________________________

  • "the world's richest 85 people, who could fit into a single London double-decker bus, control the same wealth"

 

 

 

 

 

 

 

_________________________________________

  • "as the poorest half of the global population of 3.5 billion people"

 

 

 

 

 

 

 

 

_________________________________________

  • "options to address inequality !"

 

 

 

 

 

 

 

 

_________________________________________

  • "include more progressive tax systems !!!"

 

 

 

 

 

 

 

 

 

_________________________________________

  • "and greater use of property taxes !!!"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

______________________________________________________________________________

______________________________________________________________________________





Financial
Reform
- US cable - 2008:
LINK ¤ 08PARIS1895

_________________________________________

 

  • "the French Government's objectives:"

 

 

 

 

_________________________________________

  • "rethinking the international financial system"

 

 

 

 

 

 

_________________________________________

  • "with a view to assuring stable global growth over the long term"

 

 

 

 

_________________________________________

  • "seizing the opportunity presented by widespread political support for reconsidering the status quo"

 

 

 

 

 

 

_________________________________________

  • "the summit will generate a roadmap and kick off a process of reflection"

 

 

 

 

_________________________________________

  • "of how to restructure international financial institutions"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • "this will be much broader than the G7 Finance Ministers action plan, and much higher level"

 

 

 

 

_________________________________________

  • "than the catalog of Financial Stability Forum recommendations, but should give them"

 

 

 

 

 

_________________________________________

  • "a coherent, forward-looking framework"

 

 

 

 

 

 

 

_________________________________________

  • "Europeans are acting in concert to confront the challenges generated by the international financial crisis"

 

 

 

 

 

_________________________________________

  • "but the crisis is bigger than Europe and we must all contribute"

 

 

 

 

 

_________________________________________

  • "ensuring that the mistakes leading to this and previous crises are not repeated"

 

 

 

 

 

 

_________________________________________

  • "this is one crisis too many"

 

 

 

 

 

 

_________________________________________

  • "we need to rethink the system on a global basis"

 

 

 

 

 

 

_________________________________________

  • "and found a new capitalism"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • "based on values that put finance at the service of business and individuals"

 

 

 

 

 

 

_________________________________________

  • "we need a new approach involving international organizations"

 

 

 

 

 

_________________________________________

  • "regulators and standard-setting bodies"

 

 

 

 

 

 

_________________________________________

  • "we need a new Bretton Woods"

 

 

 

 

 

_________________________________________

  • "a new system with all the political legitimacy"

 

 

 

 

 

_________________________________________

  • "needed to cope with global challenges"

 

 

 

 

 

 

 

 

 

 

 

 

 



______________________________________________________________________________

______________________________________________________________________________



Financial
Reform
- US cable - 2009:
LINK ¤ 09PARIS49

_________________________________________

 

  • "in a colloquium entitled "new world, new capitalism""

 

 

 

 

 

 

_________________________________________

  • "President Sarkozy, German Chancellor Merkel and former British Prime Minister Blair"

 

 

 

 

_________________________________________

  • "highlighted the need to put capitalism on a new footing"

 

 

 

 

 

_________________________________________

  • "and not just "fiddle with" it on the margins"

 

 

 

 

 

 

_________________________________________

  • "this must include adoption of concrete changes at the G20 Summit"

 

 

 

 

 

_________________________________________

  • "including a framework to avoid future crises"

 

 

 

 

 

_________________________________________

  • "and regulating activities that pose systemic risks"

 

 

 

 

 

 

_________________________________________

  • "Sarkozy warned that while he supported a strong relationship with the US"

 

 

 

 

 

_________________________________________

  • "no country could impose its decisions unilaterally"

 

 

 

 

 

_________________________________________

  • "the global economy was no longer a single currency system"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • "Merkel called for consideration of a UN "Economic Security Council""

 

 

 

 

 

_________________________________________

  • "with the power to deal with global economic problems"

 

 

 

 

 

 

_________________________________________

  • "comparable to the Security Council's mandate for threats to international peace and security"

 

 

 

 

 

_________________________________________

  • "and a "Charter for the Global Economy" with a status like that of the Universal Declaration of Human Rights"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • "French economist Jean-Paul Fitoussi and Italian Finance Minister Tremonti"

 

 

 

 

 

_________________________________________

  • "insisted that governments need to oblige private"

 

 

 

 

 

_________________________________________

  • "particularly, financial actors"

 

 

 

 

 

 

_________________________________________

  • "to take into account democratically determined values"

 

 

 

 

 

_________________________________________

  • "like long-term growth and social justice"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • WTO Director Pascal Lamy: "the scope of the current economic crisis"

 

 

 

 

 

_________________________________________

  • "poses new challenges and requires a paradigm shift"

 

 

 

 

 

_________________________________________

  • "in how we manage the future of the global economy"

 

 

 

 

 

 

_________________________________________

  • "there is a need to balance the objective of achieving minimal global standards - an imperative"

 

 

 

 

 

_________________________________________

  • "with divergent national / regional models"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • Indian Trade Minister Kamal Nath: "what is lacking in globalization"

 

 

 

 

 

_________________________________________

  • "is distributive and social justice"

 

 

 

 

 

 

_________________________________________

  • "one billion Indians earn less than two dollars a day"

 

 

 

 

 

 

 

 

_________________________________________

  • "Professor Joe Stiglitz highlighted the lack of social justice"

 

 

 

 

 

_________________________________________

  • "in the US market economy"

 

 

 

 

 

 

 

 

 

 

_________________________________________

  • "ECB Director Jean-Claude Trichet and former Financial Services Authority Chairman Howard Davies:"

 

 

 

 

 

_________________________________________

  • "financial institutions considered government regulation"

 

 

 

 

 

_________________________________________

  • "their biggest risk"

 

 

 

 

 

 

 

 

_________________________________________

  • Prime Minister Fillon: "we had come within an inch of a global financial crash"

 

 

 

 

 

_________________________________________

  • "in the future no enterprise, institution or economic actor could be permitted"

 

 

 

 

 

_________________________________________

  • "to avoid supervision and regulation"

 

 

 

 

 

 

_________________________________________

  • "in a way that posed a systemic risk"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

______________________________________________________________________________

______________________________________________________________________________



Tax Havens
- US cable - 2009:
LINK ¤ 09PARIS320

_________________________________________

  • "President Sarkozy has repeatedly cited the need for international action on "tax havens""

 

 

 

 

 

_________________________________________

  • "France has given high priority to the issue of tax havens based upon both domestic political and technical considerations"

 

 

 

 

_________________________________________

  • "action against tax fraud and evasion"

 

 

 

 

 

_________________________________________

  • "by the wealthiest parts of society"

 

 

 

 

 

 

_________________________________________

  • "the Liechtenstein scandal to involve one billion euros in tax fraud by French citizens, brought this issue to the fore"

 

 

 

 

_________________________________________

  • "Interior Ministry Aliot-Marie called for the end to the "naove approach" to dealing with economic bad actors"

 

 

 

 

 

_________________________________________

  • "and the establishment and enforcement of common ground rules in finance"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

______________________________________________________________________________

______________________________________________________________________________




Bankers' Nightmare
- US cable - 2009:
LINK ¤ 09PARIS1251

_________________________________________

  • "bankers are fearful that the G20 will stiffen both capital requirements"

 

 

 

 

_________________________________________

  • "and "mark-to-market" accounting rules as the solution to the financial crisis"

 

 

 

 

 

 

_________________________________________

  • "the only player opposed to modulating mark-to-market rules"

 

 

 

 

 

 

_________________________________________

  • "is Goldman Sachs"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

______________________________________________________________________________
FINANCE - Wikipedia EN: LINK ¤ FINANCE

_________________________________________

  • "finance is the allocation of assets and liabilities. It can be broken into three different sub-categories: public finance, corporate finance and personal finance"
______________________________________________________________________________




finance - 14048F
designed by Free CSS Templates | powerd by pluck | hosted by akis