At Last … Someone From India Talking About The Future Financial System
“The emerging new financial architecture is not confined to one country,” Nath said at the summit hosted by the French business chamber MEDEF along with its Indian counterparts, FICCI and CII.
As a “responsible” member of the global community, India would want to participate in the restructuring of the bleeding financial markets, Nath said. He offered India’s association in the endeavour for the banking and financial restructuring to France and the European Union. (The Assam Tribune Online).
At Long Last …
It took a Kamal Nath to finally come out and say something interesting about a new financial architecture.
He says: -
1. The body managing the international financial systems should be patterned along the lines of WTO.
2. India will work towards that.
3. The current system is a total failure.
Way to go ….
The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping – and unprepared. But, not 2ndlook – who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.