G-20’s Bizarre Contradiction: We All Pledge to Re-Regulate …and Further De-Regulate

[whirlygigspin]

Not sure what to make of this, it is somewhat confusing

Here's the release:

WASHINGTON - April 2 - Today's G-20 commitments to enhance financial service regulation clash with deregulation requirements in the World Trade Organization's (WTO) 1999 Financial Services Agreement. Instead of G-20 leaders calling for completion of WTO "Doha Round" negotiations that include further finance deregulation, they needed to agree to fix the existing WTO rules that facilitated the current crisis, Public Citizen said today.

"It is crazy that the G-20 leaders vowed to re-regulate the financial system while simultaneously undermining their ability to actually do so," said Lori Wallach, director of Public Citizen's Global Trade Watch division. "Instead of agreeing to change WTO rules that now obligate 105 nations to continue the extreme finance deregulation policies that got us into this economic mess, the G-20 leaders called for completion of a WTO expansion that includes additional financial deregulation."

http://www.commondreams.org/newswire/2009/04/02-10