US Financial Crisis: Is It theMoment For Bretton Woods II?
Source: IBS Case Development Centre
To discuss the US financial crisis (2008) that has engulfed the whole world and therefore requires synchronized coordinated global action, the US President George Bush invited the leaders of the G20 - comprising both industrialized and emerging nations - to a meeting in Washington to be held on November 15th 2008. The British Premier Gordon Brown and the French President Nicholas Sarkozy and many others have seized the opportunity to call for a rerun of Bretton Woods - the Bretton Woods II - to fashion a consensual international financial architecture to prevent any replay of the global financial crisis. It is presumed that at the deep bottom of the US originated worldwide financial turmoil, there lies a international monetary disorder.