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G20 will seek new international framework for global financial regulation

BBC [1]
Monday, March 23, 2009

Union leaders from the UK and overseas have put forward a global five-point plan they want G20 leaders to adopt as a way of tackling the economic crisis.

The plan includes job creation, some bank nationalisation, tackling wage deflation, and climate change action.

The ITUC union body said global economic “neo-liberalism” had failed.

The G20 meeting in early April brings together leaders from industrial and emerging market countries that make up 85% of the world economy.



“If the G20 governments in London are only able to agree on half-measures, they will have failed to meet their responsibilities,” said ITUC General Secretary Guy Ryder.

  • A d v e r t i s e m e n t

“As the world’s largest economies, they have the responsibility and the possibility to replace the failed neo-liberalism of the past with a whole new direction for globalisation.”

The Brussels-based body, which represents 170 million workers in 312 affiliated national organisations from 157 countries, wants to see:

Full article here [3]