Global economic crisis to continue: IMF chief

[GoFlyKiteNow]

Global economic crisis to continue: IMF chief
12 Sep 2009, 1729 hrs , REUTERS

BERLIN: The global economic crisis will continue and countries must do more to adopt financial market regulations, International Monetary Fund

Managing Director Dominique Strauss-Kahn told a German magazine on Saturday.

"The global economic crisis will continue, even if Germany and France had some good figures in the second quarter," Strauss-Kahn was quoted as saying in an advance copy of an article to be published in Der Spiegel on Sunday.

Strauss-Kahn said he wanted to see more action from nations to curb bankers' pay and tighten capital requirements in the banking sector.

"It is right to say that not enough has happened. I hope the Group of 20 meeting in Pittsburgh will bring new momentum," he said. Leaders of the G20 meet later this month to try to agree on measures to help stop a repeat of the financial crisis.

Strauss-Kahn said the lesson of the financial crisis was that the market economy needed rules to function.

"Without new rules, there will be a return to the old behavior," he said.

Governments needed to develop 'exit strategies' from the stimulus packages introduced to boost economies, said Strauss-Kahn, adding, however, that it was dangerous to think the crisis was already over.

"We need such "exit strategies." We are working on them, but I would disagree with any .... demand to think about implementing them now," he said.

 

[cowbehcowbu]

The western economies..lead by the cowboy had almost self-destructed with their ruthless,..ethic-less..reap-and-run..extrem rightist capatalist CEOs.....
now EU wake up andset rules!!!!!isnt it a joke that all those economics text book and teaching from the west ..landed themself in such disastrous melt-down...
EXTREME GREED....MORAL-LESS..ETHIC-LESS..
now the Angmo moron realise that by robbing the helpless masses...it will backlash as the whole system just melt and implodes....a virtually bloated economies is just a bubble...a prick and render it ashless....

In fact a new economic order is wanting and need to be establish now...if not ...economic will repeat over time..

A glocal socio-economic reward and wealth accumulation system must be set-up...the worth of each services and goods globbally must be closely cross-related..while decent and commensurate rewards for risk takesr in business and enterprising behaviours is maintained ..BUT effectively commensurated and tightly feed-back...
those ..the wealth spread spectrum is within a controlled zones....and basic social guarding for each and every human beings is maintained..