Business and economics

Financial Times: the summit had not resolved the crisis

In his article entitled "Summit London unresolved crisis" in the Financial Times, wrote Wolfgang Monchau that for the first time since the eruption of the crisis two years ago, world leaders did not move much beyond what was expected of them. Despite the importance of the pledge by the Group of Twenty-support of international financial institutions, the summit failed completely assigned to do. Will move a resolution to solve the world one iota the global economic crisis. Monchau said that leaders will face if they return to their homes by the decisions not to take. And will return to the economies which are about to be more failures and unemployment to the highest level since the Great Depression. Will face public anger and seek the same anger against bankers and banks. The longer they wait the more difficult it is to take the decisions required. Many of these decisions - such as capital restructuring of the global financial system - will be expensive and politically difficult if there were delays while the economy is deteriorating further. The writer mentioned that the indicators do not tell us that the future situation will be better indicators of cash that would be frightening. The twenty-Monchau Summit demonstrated that attention to the important question, to save the bank statements, mutual Greetings meaningless. Instead, the leaders expressed greater interest in future crises, the current crisis. He also pointed out the possibility of another crisis soon linked to the length and depth of the current crisis. He added that the longer the crisis, appeared to be the priorities of the Group of Twenty Wackier. He concluded that if the crisis did not show any indication of the end of next fall, the summit leaders to meet again desperate, in another city, taking on another group of demonstrators, who pledges a further series of futile and desperate to save the global economy. The London summit showed what can and can not be made by the leaders of the Group of Twenty. The group of twenty it can reform the financial institutions, and not address the biggest financial crisis in our lives.