Tuesday, April 22nd, 2008
Puzzling Complexity
The global financial architecture is very complex. Despite increasing liberalization of financial markets, increased system risk and integration of the economies through the financial markets in the last 30 years, there is no single World Financial Authority regulating the financial markets, as Alexander, Eatwell and Dhumale have suggested.
Instead what ...
Posted in Memo | No Comments »
Sunday, April 20th, 2008
When academics, analysts and scholars analyze the causes and remedies for the current credit crisis, most of them analyze macro-economic trends such as exchange rate movements, or micro-economic changes such as Basel II.
How the global financial architecture evolved and how that influences the probability of crisis is very rarely discussed. ...
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Tuesday, April 15th, 2008
In commenting the G7/FSF-report, Bill Cara makes an exemplified critique in the tradition of the American Populist movement:
The G-7 meetings are ‘potentially’ the most important in the world. This is the gathering of Finance/Treasury Ministers and Central Bankers of historically the seven most economically powerful nations.
There is a big gap, ...
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Tuesday, April 15th, 2008
French Finance Minister Christine Lagard has compared the recent FSF-report released by the G7 Finance Ministers last week to the Plaza Accord (as quoted by Christopher Swann in an article at Bloomington):
The April 11 statement was "not very different'' from the importance of the 1985 Plaza Accord.
The Plaza Accord reached ...
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Thursday, April 10th, 2008
The IIF (which is essentially the main political lobby organisation of the large, multinational commercial banks) has released a new report on markets best practices. It can be seen as the response of the banks to the regulatory efforts of the G7 Finance Ministers and the FSF.
In summary, Banks ...
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Wednesday, April 2nd, 2008
Institution: International Monetary and Financial Committee
Abbreviation: IMFC
Type: Public
Founded: 1999
Members Total: 24
Membership in:
Membership of: World Bank, IMF
Description: The IMFC was established on September 30, 1999, by a resolution of the IMF Board of Governors, to replace the Interim Committee of the Board of Governors on the International Monetary ...
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Wednesday, April 2nd, 2008
Institution: International Monetary Fund
Abbreviation: IMF
Type: Public
Founded: 1944
Members Total: 185
Membership in: FSF
Membership of:
Description: The IMF was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries to help ease balance of ...
Posted in Organisations | 3 Comments »
Wednesday, April 2nd, 2008
Institution: Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development
Abbreviation: G24
Type: Public
Founded: 1971
Members Total: 24
Membership in:
Membership of:
Description: The main objective is to concert the position of developing countries on monetary and development finance issues.
Working Group: Technical Meeting, Deputy Meeting, Minister Meeting
Outreach:
Reporting to: G77
Website:http://www.g24.org
Highest Organ: Committee of the Whole
Chair: H.E. ...
Posted in Organisations | 1 Comment »
Wednesday, April 2nd, 2008
Institution: Group of 20
Abbreviation: G20
Type: Public
Founded: 2000
Members Total: 19
Membership in:
Membership of: IMF, Worldbank, ECB
Description: The G-20 is an informal forum that promotes discussion between industrial and emerging-market countries on key issues related to global economic stability. By contributing to the strengthening of the international financial architecture and providing opportunities for ...
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Wednesday, April 2nd, 2008
Institution: Group of 33
Abbreviation: G33
Type: Public
Founded: 1999-2000
Members Total: 33
Membership in:
Membership of: BIS, IMF, OECD, World Bank, Chair of the Interim Committee
Description: The Group of 33 superseded the Group of 22 in early 1999, and was itself superseded by the Group of 20 later in the year. Several ...
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