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Renewed calls for a fundamental financial shake-up

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Renewed calls for a fundamental financial shake-up


There have been more calls for a new world financial order – this time at a meeting of centre-left governments in Chile. There was tight security for the Progressive Leaders’ Summit which heard demands that are becoming increasingly familiar – for fundamental change and a rejection of protectionism to turn around the global financial crisis.

The host, Chile’s president Michelle Bachelet, said: “The crisis cannot be combated by pushing the people and the workers aside. It should be fought by putting the people first.” Britain’s Prime Minister Gordon Brown was there, on a world tour to drum up consensus at next week’s Group of 20 summit in London next week. He said: “We need new rules of the game for this global order. Markets without rules cannot work, a world without rules will not work. We’ve got to re-shape the rules that govern both markets and states for the future. But secondly, these rules have to be based around values.” US vice-President Joe Biden went with a message of reconciliation for Latin America. Relations became strained under George Bush’s administration. He told Argentina’s President Cristina Fernandez that Barack Obama is ready to discuss all sticking points.

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