Brown: World needs 'global New Deal'.

[EarlyBird]

BERLIN, Germany (CNN) -- The world needs a "global New Deal" to haul it out of the economic crisis it faces, Prime Minister Gordon Brown of the United Kingdom said Sunday.

We need a global New Deal -- a grand bargain between the countries and continents of this world -- so that the world economy can not only recover but... so the banking system can be based on... best principles," he said, referring to the 1930s American plan to fight the Great Depression.

Brown was speaking as the leaders of Europe's biggest economies met to try to forge a common position on the global financial crisis ahead of a major summit in London in April.

French President Nicolas Sarkozy said the world's response to the global financial meltdown had to be profound and long-lasting, not just tinkering around the edges.

"Europe wants to see an overhaul of the system. We all agree on that. We're not talking about superficial measures now or transitional measures -- we're talking about structural measure, which need to be taken," he said.

German Chancellor Angela Merkel, the host of the meeting, urged nations of the world to work together to fight the problem.

full:
Brown: World needs 'global New Deal' - CNN.com

[CookieMonster]

Why is Brown getting so much airtime about this recently? He was in charge of the ship which he sailed into stormy water and he was in charge when he bailed out left right and centre making little if any improvement in the situation and having failed there he's now telling us what we have to do... hardly coming from a position of authority, is he?

[ibis]

Why is Brown getting so much airtime about this recently? He was in charge of the ship which he sailed into stormy water and he was in charge when he bailed out left right and centre making little if any improvement in the situation and having failed there he's now telling us what we have to do... hardly coming from a position of authority, is he?

Because what he's saying goes right through the tinfoil...

[CookieMonster]

But not throught the looking glass. But aside from that does anybody have a real answer?

[Bobert]

Cut fiscal spending, perhaps?

[EarlyBird]

World leaders holding an emergency meeting to combat the economic crisis agreed yesterday to a far-reaching action plan that, over the next 4 1/2 months, would begin to reshape international financial institutions and reform worldwide regulatory and accounting rules.

The leaders' 11-page statement spoke of broad principles, leaving the details to be worked out by lower-level aides before another summit meeting in April, after Barack Obama assumes the presidency. But the gathering in Washington of the nearly two dozen nations -- from every region of the world -- reflected the new balance of power emerging in the aftermath of a financial crisis that has devastated even well-run economies, a wrenching process that British Prime Minister Gordon Brown has dubbed "the birth pangs of this new global order."

World Leaders Agree to Seek Major Reform - washingtonpost.com

FM says G-20 summit to focus on global oversight
Kanika Datta / New Delhi November 15, 2008, 0:57 IST

Finance Minister P Chidambaram said he did not “expect the need for another type of Bretton Woods institution” ahead of the 20-country Summit on Financial Markets and the World Economy starting in Washington DC on November 14.

“It’s very difficult to say that we could invent another Bretton Woods type of institution. What we’re trying to do is improve global governance and global oversight of these financial institutions,” Chidambaram said at an on-board press conference.

Reiterating and expanding on Prime Minister Manmohan Singh’s three-point Summit agenda — greater inclusivity, protecting developing countries’ growth prospects and avoiding protectionist tendencies — the finance minister said, “The key point is that we must move towards a new global order that can only be achieved by greater inclusivity in the international financial system.”

FM says G-20 summit to focus on global oversight

ROME (AFP) – The world's richest nations called Saturday for urgent reform of global finance to save the world from the economic devastation that is dragging more and more countries into recession.

Italy's Finance Minister called for a "new world economic order" as he wrapped up the crisis meeting of finance leaders from the Group of Seven leading economies over which he presided here.

In a joint declaration, the G7 called for "urgent reforms" of the international financial system.

Tremonti said a so-called set of "legal standards" discussed in Rome would be presented at a meeting of 20 key advanced and emerging economies (G20) in London in April and a summit of the Group of Eight (G8) world powers in July.

"A new world economic order might seem rhetorical," he told reporters. "But it is a true goal we should be aiming towards... today right here in Rome we've embarked on a very significant journey, both technical and ethical."

The Raw Story | G7 sets sights on 'new world economic order'

Obama, world crisis and the new world order

Maurizio d’Orlando
Asia News.IT
Saturday, Nov 15, 2008

The depth of the current economic crisis is leading many people to favour a form of governance that would place economic and political life under the trusteeship of international organisations. Barack Obama’s new cabinet, which is made up of those responsible for the crisis, will ensure the ascendancy of financial interests. In the meantime no one is calling for the people to have power in the monetary sphere. The result is that democracy is being killed by financial power.

A new world order has been in the making for quite some time and is now becoming “inevitable”. Many a politician and economist are quick to say that great sacrifices are called for, and that any “reasonable” person will see that suffering and hardship are “necessary.”
The crisis that is currently affecting our lives is behind this global shift. The slow fire has moved from real estate, to banking and finances, and is now reaching industry, agriculture and the whole economy. From the heartland in the United States it is reverberating outward touching the entire world.

The fear of a domino effect and its potential for economic, political and social upheavals and the fear of widespread anarchy will provide the necessary tools to install this new order, which for most people will appear as the only possible outcome. The act of governing will change as a world body will be in charge the financial, economic and tax systems. Police, prisons and private relations inside and outside the family will come under its purview, so will national sovereignty of the peoples and the right to express opinions that are different from those of the single thought of relativism, which will be seen as the only solution that is available and desirable.

The G20 and the New World Order

Until a few decades ago such a new world order would have been anathema, a nightmare, a first step towards a worldwide dictatorship. Now world leaders will be praised when they show concern for the well-being of the earth’s peoples and social groups at a time of difficulties. Of course, this is what we will hear, and very soon too, in terms more unambiguous that we might think now. This said, new rules, a new Bretton Woods, are not anything new; discussions have been going on for some time. Perhaps the next G20 summit on 15 November will be a time when the “miracle” cure is found, one that will entail a world central bank that regulates a single currency of account and its relationship to local currencies.

ASIA ? UNITED STATES Obama, world crisis and the new world order - Asia News

[Christine Murray]

Have a look at the incumbent Chancellor of the Exchequer old alistair - jeez they don't come unstuck so easy nowadays.

[Lthse]

Looks like we can expect some grand announcements over the coming weeks with the 'devil' in the detail. Hidden in one line sentences and obscure meanings.

Problem...reaction...solution

[CookieMonster]

Looks like we can expect some grand announcements over the coming weeks with the 'devil' in the detail. Hidden in one line sentences and obscure meanings.

Problem...reaction...solution

Indeed and the long and short of it will be, Borrow more, spend more, bail out more and print more...

"No, dig UP, stupid..."

[Lthse]

Indeed and the long and short of it will be, Borrow more, spend more, bail out more and print more...

"No, dig UP, stupid..."

I suspect there may be an ERM type of system leading to a one world currency. There was some rhetoric at the last G20 about the cost and inconvenience of having to exchange currencies. They may also revert to gold back currencies just to pacify the masses for a while, until they get rid of it again in another few years. Anyway we'll wait and see what the prepared 'solution' is.