Chairman Kerry Statement on G-20 Summit Agreement

[ProSense]

04/02/2009

Chairman Kerry Statement on G-20 Summit Agreement

Washington, D.C. - Foreign Relations Committee Chairman John Kerry (D-MA) released the following statement in response to the communiqué by G-20 leaders on their plan to deal with the global economic crisis:

"The willingness of G-20 leaders to bridge their differences and demonstrate unity of purpose in tackling the global economic crisis will go a long way to restore confidence in the governments, markets and institutions that have been most affected. The sweeping reforms to tackle banking secrecy, overarching regulatory supervision, compensation schemes, as well as the need to reach a deal on Doha and avoid the rise of protectionism, are critical to stabilize the global economy and ensure mistakes made in the past are not repeated in the future.

Strengthening the IMF and World Bank will help enable those institutions to tackle the crisis in countries experiencing the most serious downturn. The IMF and World Bank are the appropriate institutions to help stabilize emerging markets in these difficult times. I applaud the adoption of Secretary Geithner's proposed increase of $250 billion to the IMF's war chest."

[ProSense]

1. More rave reviews on G20

Simon Johnson: The Last European: Why the G-20 Was a Success

Krugman on G20: "outcome was better than I expected"

[Cha]

5. Thanks for the links~

"On the highest-profile issues of financial regulation, fiscal stimulus and monetary policy, there was little progress. But on the International Monetary Fund, the American side engineered a breakthrough — not just in terms of how much money the fund can lend to countries, but also in terms of rebuilding its legitimacy and making it more effective as the world’s only global crisis-fighting organization."

[jillan]

2. Can you believe that rw is trashing Obama on this very thing?

I am soooooo proud of our President.

[Cha]

4. Yes, I can believe.. they put up

mccain and palin..and now there's steele and jindal..no telling who's waiting in the shadows.

[jillan]

6. I watched Obama today with tears of pride and wondered how anyone

could say a negative word about this trip.


Sure enough . . .

[Cha]

3. Great points on World Confidence

from Chairman Kerry..thanks, PS.