Gordon Brown has called for the IMF to be rebuilt
|
All 27 EU states broadly support the bank rescue plan proposed for the bloc and the holding of a world finance summit, France’s president has said.
Nicolas Sarkozy, whose country currently chairs the EU presidency, was speaking at the EU summit in Brussels.
The heads of the G8 top industrialized nations also backed holding a summit with other non-member states on global financial reform.
UK PM Gordon Brown has called for the IMF to be rebuilt.
Eurozone leaders have agreed on a comprehensive package designed to shore up banks, including making more than a €1bn ($1,366bn) available for interbank loans.
In a joint statement, the leaders of the G8 countries - the US, UK, France, Italy, Germany, Canada, Japan and Russia - said that changes had to be made to the ‘regulatory and institutional regimes for the world’s financial sectors to remedy deficiencies exposed by the current crisis’.
The statement added: ‘We look forward to a leaders’ meeting with key countries at an appropriate time in the near future to adopt an agenda for reforms to meet the challenges of the 21st Century.’
COMMENTS
USA and the Europeans are some of the biggest contributors to the IMF and the world bank. And it’s up to them to decide how they want their money spent.But that’s how people usually do when they decide how to spend their own money.
forex systems
ADD YOUR COMMENT
|
Win a gift of your choice!