G 20 Summit Agrees on New Financial Regulation

Rather surprisingly, the G 20 Summit in London has succeeded in delivering palpable results.

These include:

• an additional $1.1 trillion programme of support to restore credit, growth and jobs in the world economy;
• a call for strengthened financial regulation and supervision;
• establishment of a new Financial Stability Board (FSB) with a strengthened mandate, as a successor to the Financial Stability Forum (FSF), including all G20 countries, FSF members, Spain, and the European Commission;
• taking action against non-cooperative jurisdictions, including tax havens;
• extending regulatory oversight and registration to all systemically important financial institutions, instruments and markets, as well as systemically important hedge funds, and Credit Rating Agencies.

This is an impressive list. It remains to be seen what will be accomplished.

3 responses to “G 20 Summit Agrees on New Financial Regulation

  1. The conspiracy theories are true. We now live in a “New World Order”.

  2. Вихър Георгиев

    Your interpretation is quite dependent on the context of such theories. However, I recommend a critical reading of this book: http://books.google.com/books?id=NdQ7auWenBsC&hl=bg

  3. Now in the United States, the House of Representatives has passed regulatory legislation that would simply politicize finance. — http://econometrician.wordpress.com/2009/12/19/politization-as-regulation/

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