The need of the hour is Bretton Woods II
Global leaders, led by Gordon Brown and Nicolas Sarkozy, are pushing for a reform of the international financial system.
In 1944 in a small town called Bretton Woods, just a little beyond Mount Washington in the US state of New Hampshire, 44 leading Western nations met to map out the post-war financial system. The result of the agreement was the formation of three big global financial institutions û the International Monetary Fund IMF, the World Bank and the International Trade Organisation ITO.
At the closing plenary session of the conference, John Maynard Keynes, one of the principal...
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