Saturday 1 May 2010

ECB President Favors Global Governance

The President of the European Central Bank, Jean-Claude Trichet, told Forbes that global governance is extremely necessary if we want to prevent another financial crisis. In his prepared printed and spoken remarks to the Council on Foreign Relations, Trichet emphasized that politicians, economists, and financiers must work across the Atlantic and collaborate on methods to create an international set of standards. It is his belief that through global governance, the resiliency of the global financial system can be assured, noting that ultimately it was governments’ use of taxpayer’s money, equivalent to around 25% of GDP on both sides of the Atlantic, that prevented another catastrophic great depression from occurring. With the backdrop of a U.S. financial regulation bill being stuck in the Senate, he argued three main points in support of creating internationally agreed rules. more...

0 comments:

Disclaimer - The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.

The myriad of facts, conjecture, perspectives, viewpoints, opinions, analyses, and information in the articles, stories and commentaries posted on this site range from cutting edge hard news and comment to extreme and unusual perspectives. We choose not to sweep uncomfortable material under the rug - where it can grow and fester. We choose not to censor skewed logic and uncomfortable rhetoric. These things reflect the world as it now is - for better and worse. We present multiple facts, perspectives, viewpoints, opinions, analyses, and information.

Journalism is (or used to be) the profession of gathering and presenting a broad panorama of news about the events of our times and presenting it to readers for their own consideration. We believe in the intelligence, judgment and wisdom of our readers to discern for themselves among the data which appears on this site that which is valid and worthy...or otherwise.

  © Blogger template 'Perfection' by Ourblogtemplates.com 2008

Back to TOP