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Tuesday, April 14, 2009

IT HAS COME THE TIME FOR THE OECOUMENIZATION PROPOSAL




GLOBALIZATION BASED ,AS WE HAVE DESCRIBED AT OUR PREVIOUS ARTICLES,ON THE ILLUSION THAT HUMANS ARE ECONOMICAL UNITS,IT IS COLLAPSED.
THE BASIC MANAGEMENT SYSTEMS OF THAT IDEOLOGY (COMMUNISM,CAPITALISM AND THEIR DERIVATIVES)AFTER IT HAS SERVICED US WELL , NOW IT WILL BE MOVED TO POORER AND UNDEVELOPED COUNTRIES ,AS THE SYSTEM IS IN ITS DECLINE PERIOD.
G7,G20 SUMMITS AND TODAY WORLD'S POLITICAL LEADERSHIPS WHICH PROMOTE THE GLOBALIZED VERSIONS OF DEVELOPMENT,ARE FOR SURE WITH NO SOLUTIONS.
DELAYING IS AGAINST THE INTEREST OF ALL,AS PROTECTIONISM IS NOT A SOLUTION,EXCEPT IF WE LIKE LIVING IN MIDDLE AGES PERIODS.

(ON THE TITLE THE LINK GUIDES TO SOME INTERESTING ANALYZES)



Breaking News

Instant View - G20 agrees $1.1 trillion to help economy

Thursday, April 2 05:43 pm
Reuters



World leaders agreed to $1.1 trillion (746 billion pounds) in financing to strengthen the world economy and toughened up the regulations on banks, hedge funds and tax haven at their G20 summit on Thursday.
Stocks jumped on the G20 news, along with a U.S. decision to loosen accounting rules for toxic assets.

Below are comments from analysts and economists on the G20 leaders' actions:

JIM ROLLO, EUROPEAN ECONOMICS PROFESSOR, SUSSEX UNIVERSITY

"All in all, it sounds like good news. The extra funding for the IMF is obviously good news and the trade financing is important because global trade has been falling off a cliff. That should be good for the big exporters such as China and other emerging economies including Brazil -- it should please the Germans as well.
"It's important because this crisis is moving from affecting people in countries where there is some safety net to emerging economies where there is nothing to protect them at all.

"On protectionism, we will have to see how things develop. Naming and shaming can help because all these leaders want to be seen as working together at the summit and they will worry about the possibility of their peers saying bad things about them."

LARS CHRISTENSEN, CHIEF EMERGING MKT ANALYST, DANSKE BANK:

"I don't think the markets will be overly excited about it but there's no reason to be disappointed either. Nobody had really hoped for more than we're getting."

"Two things are noteworthy. The intentions on raising the funds for the IMF and restarting the Doha round, both something that from an emerging markets perspective is positive."

"Of course, the IMF money to a large extent will have to be spent on Central and Eastern Europe, so in that sense they're getting something out of that .... If there was a real commitment to free trade...a continent like Africa would benefit tremendously, especially if we were to do something about farm subsidies and the like that are tremendously damaging for Africa and other developing countries."

OMER ESINER, SENIOR MARKET ANALYST, RUESCH INTERNATIONAL,

WASHINGTON

"The bottom line is that it's a positive for risk appetite in the near term and we've seen equity markets react positively overnight and this morning and I think the dollar is under pressure as a result."

GORDON SHEPHERD, DIRECTOR OF GLOBAL POLICY, WWF

ENVIRONMENTAL GROUP

"There are some words about it but there is no clear evidence that this money will go into the green economy. We are looking for money that will go into low carbon development.

We were hoping the world's leaders would show real leadership."

JOHN SAUVEN, EXECUTIVE DIRECTOR, GREENPEACE

"Hundreds of billions were found for the IMF and World Bank, but for making the transition to a green economy there is no money on the table, just vague aspirations, talks about talks and agreements to agree."

"A clear financial commitment to green investment and jobs could have helped kick-start a green economy and tackle climate change."

ESWAR PRASAD, GLOBAL ECONOMICS ANALYST, BROOKINGS

INSTITUTION, WASHINGTON

"The U.S. has proven to be rather conciliatory on a variety of fronts, it did not insist too much on additional fiscal stimulus and other types of stimulus measures, but instead it looks like the U.S. was willing to settle for an impressive headline number of $5 trillion, which is the total amount of stimulus that's already been put into the system by the G20 countries."

On the increased financial commitments for the IMF and trade finance, "the fact that it was not just the U.S., U.K. and Japan, but many of the emerging markets including China have come along, is definitely a testament to the persuasive powers of the Obama administration."

STEVEN SCHRAGE, Centre FOR STRATEGIC AND INTERNATIONAL AND

STRATEGIC STUIDES, WASHINGTON

"The progress on the IMF and the trade financing is significant, it met or exceeded expectations."

"It seems like they're throwing out huge numbers on stimulus, but it's unclear whether this is just double counting things that have already been spent, or whether it's actually gotten new commitments and follow-up is going to be key."

"The G8s are legendary for making bold statements that kind of fall on deaf ears or are toothless."

Asked how Obama fared, Schrage said: "In terms of the diplomatic handling of the trip, I thought it went extremely well. In terms of substance, the devil is going to be in the details in terms of what they agreed. Obviously he was massively handicapped by both the short nature of the time that he's been in office and the brief nature of this meeting."

NIGEL RENDALL, EMERGING MARKET STRATEGIST, ROYAL BANK OF

CANADA

"Markets do seem to be taking it positively, although it would only take one bad piece of data to knock them back again. The IMF funding is more than expected, and in so far as that means there is a larger pot of money available to bail out troubled economies that is good news. But these troublespots particularly in Eastern Europe are still there and this will not make them go away overnight.

"The positive pieces of economic data in the last couple of days to provide a crumb of comfort but we are in a very deep recession and this is not going to get us out overnight.

"Having more money may make the IMF more lenient in terms of not cracking down on spending or forcing austerity measures -- but that may not be good news in terms of attracting foreign investors back to these economies.

"If you were to really believe this was going to work, then you would want to be going into the higher yielding emerging economies such as Brazil, Turkey and South Africa. Eastern Europe is a different case and I don't think you would want to go back to their yet."

SARAH HEWIN, SENIOR ECONOMIST, STANDARD CHARTERED, LONDON

"We expected that one of the key announcements would be a huge boost to the IMF. What has been announced is at the top of the range. Market response has been positive in terms of reduced risk aversion. "It is going to be a help to poorer countries that have been hit by the sharp decline in trade flows.

"We need to see more details about what the approach to impaired assets is."

WIN THIN, SENIOR FX STRATEGIST, BROWN BROTHERS HARRIMAN AND

CO., NEW YORK:

"Shock and awe from IMF boosts EM (emerging market) outlook," said in research note.

"Any moves to increase public sector flows to EM (emerging markets) will be welcome, with or without strict IMF conditionality attached. News is helping EM FX rally, and even though the economic outlook remains dicey, the IMF news could at least remove financing and default fears from the market."

JULIAN ZELIZER, PRINCETON UNIVERSITY HISTORY PROFESSOR

"It was a good start. The leaders realised that there will need to be international solutions to a global crisis or domestic recovery will not work. Pressure resulted in support for tougher financial regulation which is the only way to prevent future breakdowns. This is just a start, a three hour one, but it was a good foundation."

SOURCE Reuters

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