In today’s BBC News online:
“…in the new Financial Stability Board, which will now incorporate all G20 members, there is the potential for a powerful new global financial regulator.
“Even more significant is the increased power given to the international financial institutions, the World Bank and the International Monetary Fund, who have been subcontracted by the G20 to monitor and run many of their policies.
“IMF managing director Dominique Strauss Kahn was jubilant after the meeting, saying that the IMF ‘is now truly back.'”
Later in the story Mr Strauss Kahn was quoted to say that he believed the G20 was shaping up as the board of governors for the world economy, and said he favored an even bigger grouping to give more representation to poor countries.
- How will the decisions concerning global regulation immediately affect your clients? Your firm?
- How will the IMF’s ability to issue $250bn worth of its own currency, the SDR, affect the products and services you will offer?
- Will international trade be facilitated or hampered by the decisions made at this conference?
- Do we now have a de facto world central bank? What’s your view?