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Five Steps to Overcoming Global Financial Crisis |
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Chinese Premier Wen Jiabao, World Economic Forum, Davos, 28 January 2009
The current crisis has fully exposed the deficiencies in the existing international financial system and its governance structure. It is important to speed up reform of the governance structures of major international financial institutions, establish a sound global financial rescue mechanism, and enhance capacity in fulfilling responsibilities. Developing countries should have greater say and representation in international financial institutions and their role in maintaining international and regional financial stability should be brought into full play.
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World Social Forum tells Davos to fix crisis -- or else |
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World Social Forum, Brazil, 29 January 2009
Paraguay's President Fernando Lugo, Bolivia's President Evo Morales, Brazil's President Luiz Inacio Lula da Silva, Ecuador's President Rafael Correa and Venezuela's President Hugo Chavez, right, raise their arms during the World Social Forum, in Belem, Brazil, Thursday, Jan. 29, 2009.
Brazilian President Luiz Inacio Lula da Silva said at the event in Belem that it was urgent for the rich nations "to resolve this crisis so the poor countries can develop."
But he warned against worrying signs of protectionism, saying: "It's not fair that, now that the rich countries are in crisis, they forget their talk about free trade."
The presidents of Venezuela, Bolivia, Ecuador and Paraguay echoed his comments putting the blame for the worldwide turbulence on developed nations, particularly the United States.
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Muammar Gaddafi elected as the Chairman of African Union |
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2 February 2009
Muammar Gaddafi, the Libyan leader, has been named chairman of the 53-nation African Union. He was elected by the heads of state in a closed-door session, for a one-year period and replaces the Tanzanian President, Mr. Jakaya Kikwete.
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The Ecuadorian Proposal for a Crisis Response Agenda from the South |
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Pedro Páez Pérez, Minister of Economic Policy Coordination, Republic of Ecuador
Perplexed and unable to decide what to do, most of the humanity is watching the international financial crisis deepening and increasingly jeopardizing the precarious living conditions of billions of persons. Meanwhile, a fast process of mergers and acquisitions is taking place, and a vast amount of taxpayer’s money is pouring into the financial markets. As in other historical experiences, the most vulnerable ones will end up paying for the excesses of others, unless a viable and technically well designed roadmap is created to defend their interests. The Government of Ecuador is presenting a series of initiatives for a collective construction of a new international order.
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