MISSEDLINK

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

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• "the International Monetary Fund, IMF - warns the world’s richest nations !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and the more - developed nations !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "to have a greater sense of urgency - to safe the climate !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "and to have a greater sense of responsibility - for the climate !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

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• "enhancing the - global financial safety net !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "reducing international tax avoidance - fighting diseases !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

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the IMF Chief about the Lessons of the Financial Crisis - the Guardian: LINK ¤ the GUARDIAN

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• "the IMF Chief Christine Lagarde - who is now ECB Director, of the European Central Bank !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "tells that years on from the deep financial crisis - that engulfed the global economy !"

 

 

 

 

 

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• "banks still need - to be reformed !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to focus less - on excessive risk taking !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "bonuses must not be made - at the expense of public trust !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "the behaviour of the financial sector - has to change fundamentally in a number of dimensions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to prize long-term prudence - over short-term profit !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "to prize tomorrow's relationship - over today's bonus !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

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• "Christine Lagarde warns the too-big-to-fail problem - among some financial institutions !"

 

 

 

 

• "has to be - resolved !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "Christine Lagarde tells the - inclusive capitalism conference !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "that inequality - must not be a barrier to growth !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "and must not undermine democracy - and human rights !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "the richest 85 people - who could fit into a single London double-decker bus !"

 

 

 

 

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• "had had the same - as the poorest half of the global population of 3.5 billion people !"

 

 

 

 

 

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• "equality - must be increased !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "options to reduce - inequality !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "include more progressive - tax systems !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

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

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• "the objectives of the French government are - a rethinking of the international financial system !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to assure a stable economy over the long term - that is totally sustainable !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "for and with a - global sustainable environment !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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

 

 

 

 

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

 

 

 

 

 

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• "of how to restructure - international financial institutions ?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "much broader than the G7 Finance Ministers action plan - and much higher level !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "than the catalog of Financial Stability Forum - recommendations !!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "but with a coherent - forward-looking framework !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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

 

 

 

 

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• "this financial crisis is international - and we must all contribute !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "ensuring that the mistakes leading to this financial crises - are not repeated !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

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• "this is one financial crisis - too many !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "we must rethink the whole system - on a global basis !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "and found - a new capitalism !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "based on sustainable values that put finance - at the service of the economy and the society !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "we need a new approach - involving international organizations !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "regulators - and standard-setting bodies !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "we need a - new Bretton Woods !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "a new system - with all the political legitimacy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to cope with current and future - global challenges !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

 

 

 

Economic Reforms - US cable - 2009: LINK ¤ 09PARIS49

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• "in the colloquium entitled - new world - new capitalism !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "Angela Merkel, Nicolas Sarkozy - and the former British Prime Minister Tony Blair !!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "highlight the need to put capitalism - on a new footing !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

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• "including a strong framework - to avoid financial crises in the future !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "and regulating activities - that decrease systemic risks !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "no country could impose its decisions - unilaterally !"

 

 

 

 

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• "the global economy is not - a single currency system !"

 

 

 

 

 

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• "Angela Merkel calls for consideration of an - UN Economic Security Council !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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

 

 

 

 

 

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• "comparable to the UN Security Council's mandate - for the international peace and security !!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

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

 

 

 

 

 

 

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

 

 

 

 

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• "insist that governments - need to oblige private !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "particularly - financial actors !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to take into account - democratically determined values !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "like sustainability - and social justice !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

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• WTO Director Pascal Lamy notes: - "the scope of the current financial crisis !!!!!!!!!!!!!!!!!!!!!!!!""

 

 

 

 

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• "poses new challenges - and requires a paradigm shift !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

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• "this is an - imperative !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "with divergent national - and regional models !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "Professor Joe Stiglitz highlights the need - for much more social justice !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "particularly in the USA - and in the market economy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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

 

 

 

 

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• "noted that some banks had considered government regulation - a risk !"

 

 

 

 

 

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

 

 

 

 

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• "in the future no enterprise - institution - or economic actor !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

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• "should be permitted - to avoid supervision - and regulation !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

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• "to reduce the - systemic risk !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

 

 

 

 

 

 

 

 

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

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• "the bankers were fearful that the G20 - could stiffen both capital requirements !"

 

 

 

 

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

 

 

 

 

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• "Goldman Sachs had opposed - modulating mark-to-market rules !"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCE - Wikipedia EN: LINK ¤ FINANCE