Tuesday, 30 June 2009

G-8 Financial Ministers Urged to Support UN Crisis Summit

The World Future Council [WFC] on Friday urged the finance ministers of the G-8 states, who were having a meeting on that day in Lecoe, Italy to help to ensure the success of the UN High Level Summit on the global financial crisis and its impact on development. The Summit would be held on June 16 - 24 in New York.

The UN had pled the world to take constructive measure to protect the poor communities from the mounting global economy crisis and carry out the process of re- building the world’s economy. Regret fully, the role of wealthy states to take to prompt and effective actions toward reformation were still not strongly felt.

“The global crisis now throws the great challenges and opportunity to run an effective system which would promise security for all rather than securing money for the wealthy few” this was statement made by the WFC Council and ex- assistant secretary of the UN Hans von Sponeck as disclosed to Business News by E-mail on Saturday [13/16].

The original negotiation document lead by the President of the UN General Assembly Mique D’Escoto Brockmann deviated greatly from the consensus on reformation agreed with IMF, the World Bank and G-20.

The consensus emphasized on inter-system correlation between the financial sector, food, energy and ecology. The recommendation which involved a number of global institution to tackle cases of corruption, competition, security of financial products, global protection, reserves credit and International taxation schemes. What was more, the present document underway was even way beyond the platform that was supposed to be the policy of the G-8.

“There is one very pressing circumstance which calls for immediate and fundamental reform” remarked Jacob von Jackhill, founder of Future of the World on Friday [12/6].

“Presently recovery of the stock market and bank are for the most part the result of change in the standard of accounting. We should not think the platform of wealth but work to set global rules to prioritize on the majority”.

To be less sensitive and un-responsive to the inter-related crisis would worsen economic instability and hamper the eco-system in the future, increasing human insecurity or even trigger conflicts.

“The momentum to rebuild a safe and just global economy had gone. As a global organization, the UN should pay a key role in guiding a process “ Gopel Maja, Director of WFC made his remark on occasion of Program of Justice for the future. “Especially in times when the economic analysis of the UN is more accurate than that of the IMF or World Bank”.
The World Future Council, by the time it schemed up policies, represented the interest of the Future generation. As many as 50 members from all over the world had succeeded in making changes. The World Future Council had meet the challenges of the future by the right decision making and effective solution to problem.

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