Friday, July 10, 2009

The Tottering G8 and IMF

The headline , "Despite Obama's pledge, G8 Makes Little Headway on Climate Change", says it all.

Is a trade war, in the guise of an environmentally friendly carbon tariff, on the way ?

Meanwhile, the World Banks is having to sell bonds, and possibly gold. Not a good sign if you're supposed to be the lender of last resort. But developing nations don't trust it given that the traditional powers don't want to give up significant control.


Related : Reforming the IMF

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