German chancellor Angela Merkel is set to push international leaders to draw up a "world risk map" of global financial institutions to allow financial authorities to quickly identify future trouble spots.
Unveiling the findings of a government-commissioned expert panel on Friday Mrs Merkel also proposed the creation a central body to oversee credit ratings agencies, an international register of major loans and the better alignment of managers' pay to discourage short-term risk taking.
World leaders holding an emergency meeting to combat the economic crisis agreed yesterday to a far-reaching action plan that, over the next 4 1/2 months, would begin to reshape international financial institutions and reform worldwide regulatory and accounting rules.
Fortunately, the U.S. has been extremely reluctant to participate and sign on with any of these efforts. At least, the U.S. has been reluctant under President Bush; under President Obama, there's no such emphasis on freedom or American individualism:Britain's Prime Minister Gordon Brown will give his annual foreign policy speech today at the Lord Mayor's Banquet. He will be calling for the reform of international financial institutions and the forging of a new world order.
Via London (Reuters) from an excerpt from his speech, Brown calls on the alliance between Britain and the U.S. and "more broadly between Europe and the U.S" to lead global efforts to build a "stronger and more just international order."
Brown will meet with other world leaders in Washington next week for an economic summit to discuss long-term economic solutions to the current financial crisis. According to a summary of the speech Brown will say:
"Uniquely in this global age, it is now in our power to come together so that 2008 is remembered not just for the failure of a financial crash that engulfed the world but for the resilience and optimism with which we faced the storm, endured it and prevailed, . . . "...And if we learn from our experience of turning unity of purpose into unity of action, we can together seize this moment of change in our world to create a truly global society."
The BBC-commissioned poll named Barack Obama the world's favorite candidate by an overwhelming margin of four to one. They see in their fellow "citizen of the world" a kindred spirit:Someone whose former spiritual mentor shares the European elite's "chickens coming home to roost" schadenfreude. Someone who has promoted the need for "empathy" toward the head-chopping jihadists. Someone who shares their fetishizing of terrorists as poor victims of imperialism in need more "understanding" and "education." Someone who cynically hawks "Buy American" campaign stickers while courting the "Blame America" Left at home and abroad. Obama is their man. Never forget.
"Tonight, I speak to you not as a candidate for President, but as a citizen ... of the world."
Now we know why Obama took the American flag off his lapel. On July 24, in Berlin, he told us. The American flag is too small to contain him. He is not comfortable being an American citizen, only fully comfortable as a citizen of the world.
Are we inching toward a global government? Just how close are we getting? Might be something worth pondering.
There's my two cents.
Sources:
http://www.ft.com/cms/s/0/97c3f92e-b245-11dd-bbc9-0000779fd18c.html?nclick_check=1
http://www.washingtonpost.com/wp-dyn/content/article/2008/11/15/AR2008111500902.html?wpisrc=newsletter
http://faultlineusa.blogspot.com/2008/11/uks-gordon-brown-calls-for-creation-of.html
http://www.theresmytwocents.com/2008/09/who-hates-america.html
http://www.nytimes.com/2008/07/24/us/politics/24text-obama.html?_r=2&adxnnl=l%25oref=slogin&pagewanted=all&adxnnlx=1216922976-uKafQKlEvhxo8418g2GOSw
http://corner.nationalreview.com/post/?q=NDQ4YzA5MmMzMGNjZmIyNzZjZWZjMmI5MDFmYTc2ZGE=
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