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.

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Related : Reforming the IMF

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