Russian President Dmitri Medvedev gestures during a speech at the Kremlin
Dmitri Medvedev also wants a “new Bretton Woods”
by Sahil Nagpal
Leaders meeting in Washington on Saturday to deal with the financial crisis must build the basis of “a new Bretton Woods,” Russian President Dmitri Medvedev said in an interview published Thursday in the French daily Le Figaro.
In reconstructing the world’s economic system, as the 1944 Bretton Woods meeting did, heads of the world’s leading industrial nations must establish “new international credit institutions, a new accounting system, a new risk insurance system,” Medvedev said.
The Russian president said Moscow had already suggested the development of a risk alert system that all countries would set up on their own.
Medvedev said he had already shared his ideas with French President Nicolas Sarkozy, British Prime Minister Gordon Brown, German Chancellor Angela Merkel and Italian Prime Minister Silvio Berlusconi.
“We share the same vision about the origin of the crisis,” he said. “We must find the solutions to stabilize and reform the system for the long term.”
1 response so far ↓
Daniel F // November 13, 2008 at 9:42 pm
64 Days And 1.485 Trillion Dollars
From July 28th to Oct 4th 2008 the Congress and the Senate raised the US debt ceiling limit from $9.815 trillion to $11.3 trillion. That is a staggeringly, bone crushing 1.485 trillion dollars of new debt in just 64 days.
The Federal Reserve System was designed to transfer wealth from those who work to those who have the license to print our money. It is failing now and Wall Street’s exit strategy is a world dictatorship which will begin with a financial union as did the EU.