A New Bretton Woods Agreement?

by Dual Income No Kids on November 4, 2008 · 0 comments

NakedCapitalism is a blog that I occasionally visit. They’ve got a good posting on the international financial meeting that’s being held on the 15th of this month. Representatives from the major world economies are going to meet to discuss a number of things, including:

1) The International Monetary Fund (IMF) and the role of emerging economies. Right now European and Western countries have disproportionate influence on the IMF, but countries like Brazil and China are coming up, so they may want to push for a change in presentation.

2) IMF country rescue programs. With meltdowns in places like Iceland, there may be discussion of mechanism and procedures for bailing out whole economies.

3) Regulations. Possibly also on the agenda will be international regulations regarding bank deposit insurance and rules about how much money financial institutions need to keep on hand.

What does all this mean for you? Well, not much, but it is interesting to see how the global economy is regulated.

Click here for the posting on Naked Capitalism.

Best,

James

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