Sarkozy Invites India To Set Up Another Bretton Woods
European leaders have asked India to join a major economic summit to prepare a response to the global financial meltdown sparked by the US credit crisis.
At a hastily convened meeting in Paris, French President Nicolas Sarkozy called for a summit in November where emerging powers India, China and Brazil should join the Group of Eight industrialised nations — Britain, Canada, France, Italy, Japan, Germany, Russia and the United States.
He said the heads of the European Union’s four biggest economies – Germany, France, the UK and Italy – were united on the need to call all leading economic nations together to create “a new financial world just as Bretton Woods did 60 years ago”.
1 week ago, at a con-gab hosted by the French business chamber MEDEF along with its Indian counterparts, FICCI and CII, Kamal Nath was informed how India could contribute to a new global financial order. 1 week later, the Indian Government, in a self congratulatory mode put out a press release, informing the country that India has been ‘invited’ to this meeting.
Manubhai, we are so honoured!
India’s April Fool Jokers
RBI, India’s April Fool Jokers are clueless – about India’s unique position to forge a new global order. And so is our bureaucracy, the politicians.
The Nuclear Deal was also approved to co-opt India into another Bretton Woods. Sarkozy, of course, has been kind enough to inform us, in advance.
As usual, RBI is still clueless what to do. Possibly, they are waiting for their White, Western intellectual masters to give direction.
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.