Article Type 2008-11-16 05:09
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Adopted a joint declaration highlighting the exclusion protectionism ..
Summit in April next year, `2 'to gaechoeki
WASHINGTON (AP) correspondent baksanghyeon 15 days for solving the global financial crisis, the United States held in Washington, DC, G20 (the West from 20 countries) summit, leaders of the participating countries for financial market regulation. Strengthen the supervision and descent of the world economy In order to prevent the governments of the domestic economy, the principle of buyangchaek has adopted a joint statement.
World leaders to 5 hours with the finance minister over the way the joint statement adopted at the bonhoedam and shut down the afternoon with the official said the talks.
World leaders respond to the world economy, based on close coordination of macro-economic policy needs to respond to a wide range of leading naeteumyeo agreement, the domestic economic situation, in response to the importance of monetary policy to maintain financial health and jaeinsik Active fiscal policy to boost domestic demand and the push ahead.
But the matchun joint for interest rate cuts was not a match made no mention hapuina buyangchaek to have a gakgukbyeol to refer to the individual countries was concluded.
Financial market reform and regulation. Supervisory functions, in order to enhance the level of world leaders in the most basic and important regulations reaffirmed the principle that the financial trends of globalization and international standards to strengthen global cooperation is essential to strengthen Another said.
The joint declaration, "all the financial markets and financial products, financial market participants will receive the appropriate regulations and monitoring" the principles were specified.
However, at this meeting of the European countries, the Organization for the establishment of the Financial Supervisory juchanghan chogukgajeok made about the agreement.
Instead, by countries with different accounting rules and regulations to improve practices to adopt international accounting standards with a single country of the Financial Supervisory harmony and cooperation of the countries with Per multinational surveillance for a large financial company said.
The contents of complex financial products and the company's financial situation and the public for financial products by credit rating to introduce differentiated said.
The International Monetary Fund (IMF) and other international financial institutions and developing countries in the emerging market countries to reflect the representation of the economic power to expand the agreement in principle to bwateumyeo, 12 major developed countries, the finance minister, central bank governor, the head of the Financial Supervisory Agency , IMF, World Bank, an organization, and a comprehensive financial stability forum (FSF) for the principle of the participation of emerging market countries said.
IMF and the World Bank and other multilateral development banks and funds, if necessary, the appropriate kind Review has decided to fund the expansion.
In particular, the bankruptcy of financial companies to large multinational credit crunch in the financial crisis spreading around the world in order to prevent the situation that occurs in a large multi-country regulatory, financial companies, so that the poor can be reduced by this step, has decided to review the bankruptcy law .
These principles and tasks for the country's finance minister suriphae implement the Action Plan, but as soon as possible implement the necessary measures to be implemented by the end of the next 3 to push ahead the rest of the medium-term challenges.
For the world economy in the Joint Declaration promises `open 'that I possess, unstable financial markets and protectionism in the domestic-oriented countries that it is important to ensure that action was taken.
In particular, economic growth and to avoid excessive regulations that prevent the movement of capital and trade. Investment barriers and export restrictions should be self-emphasized, during his keynote address at South Korea's Lee Myung-bak, the president ruled out the principle of protectionism and the declaration of 1000 people were captured.
The G-20 conference participants by the end of next year 3 of the Action Plan to implement the specifics of enforcement and implementation of the medium-term challenges as the implementation of specific measures to check the situation again before the end of the month for a 4 gaechoeki agreed to the G20 summit.
No G20 summit next year because uijangguk discussed as a candidate for England to host the next meeting in the meeting, but the decision is made on the venue.
shpark@yna.co.kr
Article Type 2008-11-16 05:18
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WASHINGTON (AP) correspondent goseungil = G20 (advanced 20 countries) are the top 15 (local time), the U.S. financial summit in Washington, DC, to diagnose the cause of the global financial crisis, and ways to resolve it as a high-intensity Through financial reform and fiscal policy to boost domestic consumption and for pledging to reach a joint declaration said.
The main contents of the joint declaration.
◇ the cause of financial crisis
For the risk assessment ▲ without proper risk management, investors sought gosuik complex and opaque new financial products and poor.
The financial market supervisory authorities ▲ policy-makers and not aware of the risks of financial innovation does follow.
Consistent macroeconomic policies and appropriate structural reforms ▲ this does work.
Stabilize financial markets and the real economy, ◇ the future
Appropriate monetary policy factors in the domestic operating environment ▲
Considering the financial sustainability of ▲ through fiscal policy boost domestic consumption
▲ IMF support system for short-term liquidity (Short-term Liqiuidity Facility) and liquidity support for countries emerging markets and the need for
▲ IMF, the World Bank (World Bank) and other international financial institutions to overcome the crisis continues to be a role for the Organization to strengthen the financial resources to expand
Common principles for financial market reform ◇
▲ = complex financial products and enhance transparency and chaekimseong of financial institutions and the public, seeking to prevent the risk of excessive system to improve incentives for
▲ financial regulations, improve = all financial market supervision, financial products and the regulation of financial institutions, including, the soundness of the financial market and improve risk management capabilities. In particular, strengthen the supervision on the credit pyeonggasa
Improve the reliability of financial market ▲ = investor and consumer protection, understand the conflict (conflict of interest) and to prevent market manipulation activities and enhance information sharing
Strengthen international cooperation in the financial regulatory ▲ = jangbyeol cooperation and collaboration capabilities to enhance trade and capital gukgyeonggan
▲ reform the international financial institutions = IMF, the World Bank and other international financial institutions to the emerging changes in economic conditions in developing countries need to improve corporate governance and stock.
▲ FSF (Financial Stability Forum, the financial stability forum), a member of emerging developing countries, including the urgent need to be expanded in the direction. FSF the G7 + 5 countries (Australia, Singapore, Hong Kong, Switzerland, the Netherlands), the financial authorities of giguim monitoring international financial markets.
▲ IMF member countries expanded the FSF and close cooperation with other organizations to cope with the crisis must perform key roles.
◇ finance ministers and experts of the task
▲ G-20 finance ministers based on the principle of the common. Short-term in 2009 to implement the task of G-20 uijanggukdan (Brazil, UK, South Korea) led by the implementation of the plan
▲ G-20 Finance Ministers additional recommendations for the next 6 to maryeonham things.
① in regulatory policies to mitigate the elements gyeonggisuneungjeok
Worldwide, accounting for complex securities products ② system maintenance
Enhance the transparency and soundness of the credit derivative market ③ the risk of system collapse
④ financial institutions and innovation, risk-related incentives review scheme
⑤ mission of the international financial institutions, corporate governance, the need for financial resources Review
A range of important financial institutions ⑥ system, and the Director of the Organization of the appropriate regulatory decisions
▲ about the practical challenges for implementation in April 2009 to inspect the performance of 30, will be held next meeting
For the world economy on the open Reaffirming ◇
▲ comply with the basic principles of the market, while gyeongjejuui gyeonggyehal the spread of protectionism required. To attend the trade and investment for countries to create new barriers, or a new export restrictions that are in violation of WTO action to take or refrain from the export promotion policy enforcement
ksi@yna.co.kr
... The opening of the G-20 summit. Economic recovery, financial stability seek cooperation
Article Type 2008-11-16 00:46
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WASHINGTON (AP) By baksanghyeon of the global financial crisis, cooperation for the deadlock and boost the economy of the world for the G-20 summit, U.S. President George W. Bush on December 14 of the jujaehan White House dinner in Washington this morning, and December 15 Meeting said.
Diagnose and prevent the recurrence of financial crisis for the countries to seek cooperation in the meeting of the G-7 of the developed countries, China and South Korea, India, Brazil, and to obtain the cooperation of newly emerging sense that the meeting The transfer of power the global economy, suggesting that as the meeting is of historical significance.
President Lee Myung-bak and other world leaders meeting in the morning and two in the afternoon has to share the country's finance minister byeonghaenghae the G-20 summit, including the termination of the working group and are working to coordinate with the release komwinike.
To stabilize the world financial system reform komwinikeeneun ▲ ▲ roadmap, the establishment of the global financial supervisory system for economic cooperation ▲ ▲ guarantees regarding free trade agreements included in the declarative are expected to Action plans to incorporate these principles in depth Is discussed.
In particular, the finance wolseuteuriteubal Because of the large financial companies around the world subject to the risk of being spread across the border in order to prevent pre-chogukgajeok the launch of the Financial Supervisory Agency to discuss the issue, but the core agenda of the United States and Europe The big differences will not be easy to find a clear agreement.
Because of this, a loose coalition of countries to the birth of the Financial Supervisory Agency to monitor large financial companies, co-director of a plan to be discussed in working groups.
World leaders such as the U.S. economic recession in developed countries, developing countries and an even bigger blow to the country has recognized that, to prevent the worsening of the economic recession to cut interest rates through international cooperation and the execution of the game buyangchaek support for his position Is expected.
In the process of the spread of financial crisis, the International Monetary Fund (IMF) due to the limits of the resources properly, not perform the role of a probie mothame and the expansion of IMF voting rights of the fund and to discuss adjustments, but the big difference between the developed and emerging economy countries This is not easy to coordinate.
Japan's foreign exchange reserves, the world's No. 2 in G-20 meeting held on the 100,000,000,000 U.S. dollars to fund the IMF to reveal some of the world's No. 1 foreign exchange reserves in China, also under pressure to put out a chulyeongeum emerging economies, including China, the gahaeteuna Developed countries to exercise the voting rights of more than chulyeongeum practices, said the correction.
South Korea to guard against the spread of protectionism in trade and investment does not create new barriers to participation in the proposed freeze was declared, Brazil to strengthen the country in support of the developed countries, he said.
President Bush in the White House dinner the night before, "within a short period of the financial crisis is not balbalhan, it alone will not be able to overcome the killing of a short period of time," said "But if countries with a long-term prosperity of the world economy can be put back on track And the confidence is shared by all, "he said.
The G-20 summit meeting, not as a one-time, based on the Action Plan for the contents of the agreement, will be held again next year, 4 wolkke.
shpark@yna.co.kr
G7? G13? G20? Numbers are hiding in the 'power Code' is ...
Article Type 2008-11-15 06:02
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[Central News gimwonbae] as a global economic slump migukbal financial crisis began to discuss the reorganization of the international economic order that is active. Jungsimen the G7, G8, G13, G20 is the same hyeopuiche. Group G (group) the head of letters, numbers, means the number of participants. What the future realignment in order to the economy and hyeopuiche this meeting is to go into a full understanding of the different countries.
So far, the G7 had led the world economy. The 1973 oil shock move to the world economy, you have Lisa the following year, the United States, Britain, France, Germany, Japan, the center of the informal meeting of senior economic officials meeting was made. This advanced 5 countries (G5) was meeting. It is based on the first summit was held 75 years rangbuyeeseo France. At this point, Italy, Canada, added the following year, 7 of the Western developed countries (G7) meeting was inaugurated. G7 finance ministers and the summit meeting, held every year to coordinate the world's major economic issues said.
In 1997, Russia joined the G8 meeting, as said. G8 foreign ministers meeting and the summit opened, but now minus G7 finance ministers meeting gukgaman Russia are participating. G7 finance ministers gathered in Washington in the last month to discuss the financial crisis was a problem.
G13 and G8 countries to emerging growth has expanded steadily to about. Glasgow in 2005 at the G8 summit in Britain, China, India, Brazil, Mexico, South Africa and the emerging 5 countries were not invited. The expansion of the G8 countries, together with emerging 5 is talk. France and Italy to Egypt and to add here, let's reform and the G14 said. South Korea is the world's largest economy, 13 wijiman G13 and the G14 countries is not mentioned.
This highlights the importance of the G20 was born in the 1997 Asian financial crisis. Newly industrialized country with developed countries, and because you need to discuss the chapter. Once the main 22 countries (G22) meeting, 33 countries meeting (G33) was unified with the G20 yeolryeotjiman. Argentina, Australia, Turkey, Saudi Arabia, South Korea, Indonesia, G13 and 6 countries and the European Union (EU) will be added. Every year since 1999, finance minister and central bank governors meeting, the summit will be the first time this year. South Korea is expected to take uijangguk 2010 G20.
Gimwonbae reporter
G20 conclusion, Obama completed in April next year after the inauguration of the administration
Article Type 2008-11-16 05:08
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Washington】 【nyusiseu
Financial reform at a summit jijeokdoen regulation and transparency of the financial sector to the President-elect Barack Obama is a saejeongbuga chwiimhae said the 4 hwakjeongdoel woljjeume.
Building Washington, museum G20 summit held in 15 days after the G20 meeting of financial sector regulation and economic crisis like the world to prevent a recurrence cooperation, a cooperation that the adoption of the statement, but the bottom line is the actual 4 gaseoya is slated to close next month.
The new guidelines agreed by the summit of the world, but for subsequent detailed discussion of the issues and follow-up meeting to be held in the next year, was 3 may be open to about woljjeume conclusion of the next 4 will be decided at the meeting was a follow-up Has been set.
Therefore, the fact that the G20 is the president-elect chwiimhae Obama, who started the business about 2-3 months out dwijjeumeseoya possible, and significant coordination with the United States of saejeongbu with economy-related vision after the operation will geochyeojin Will be concluded.
G20 meeting to prepare a joint statement the wording on the side so he wrote it, world leaders agreed to prevent leakage before adopting a position josimseureon said.
As part of the joint statement said the two will content itself. The government statement on page 5 of its efforts to strengthen the national economy is to strengthen that.
In addition, the international financial system to regulate the countries to cooperate, while at the same time, reject protectionism and be able to help countries to less developed nations have an international structure, system, it said.
Such as the current economic crisis spread, threatening the world again in order to prevent the world financial watchdog to review the law to specific reform measures to improve surveillance, the government has to find out.
Ganyeohan to draft a management statement, "the financial market with the products and personnel to participate in it and watch to make sure that the regulation was to ensure that," he said meaning.
The international financial institutions, world leaders, in return for companies to take risks to change the rules for compensation that the regulations to them and also to strengthen surveillance measures and actively support.
The statement also improve the reliability of the market and strengthen regulations and the responsibility to ensure transparency, to improve the actual content of the action plan is to be applied.
The leaders of the international financial institutions to strengthen international cooperation and look forward to.
By choecheolho hay@newsis.com
Economic Power东进... 'new dageukhwa the' graveyard of the boat cast sinheungguk
Article Type 2008-11-15 03:12
Wosingteonseo 15 days of the G20 summit
佛英"The dollar is no longer the only currency gichuk"
Bush, "the system works well dwieopeuryeo 60 years," opposition
中日, and the national interest '新financial system dongsangyimong
"The dollar is no longer the world's only currency gichuk." "Dwieopeuryeo more than 60 years do not work well with the system."
World economic crisis and resolve the direction of the world to discuss the reorganization of the financial world's major economic order, 20 (G20) summit on the 15th (U.S. time) will be held in Washington, the White House. World economic crisis now unfolding in front of your eyes and find a solution that is the main agenda of the meeting. However, on the other side of the international financial order is a more fundamental dispute that exist.
Breton Woods at the 1945 meeting of the world's financial order gichuk currency, the United States no longer have to go out for the individuals in question will be raised. Because of the foundation of the conference to maintain the current system, the United States, the European currency to $ gichuk the role of the rocking system, aiming to expand in Europe, in a fraction of the newly emerging split into an internationally competitive position and routing gissaumyi is expected to be deployed.
The new version of world order to weave the most actively trying to take advantage of the G20 countries are France and Britain. French President Nicolas Sarkozy before leaving to attend the G20 "to go to Washington after World War 2 was the world's single currency can not be maintained no longer explain the position," he told AFP 13 days.
French president "was in 1945 that the truth can not jinsilil now, and whether it is not a matter of fact, the courage to recognize the problem of how to boneunya," he said. Strengthening the international financial regulations of the original movement against France, British Prime Minister Gordon Brown had become a multipolar world order, the other name of 'God Breton Woods' as justification for the establishment of the system is synchronized to France.
U.S. President George W Bush in a speech in New York on October 13, "an old structure and poor financial risk management practices of the crisis, but the crisis can not be viewed as the failure of free-market economy" and "around the world including the United States government To reform the financial system, but it should not be trying to re-create the whole thing, "he went.
"We were much stricter regulation in Europe than in the United States also is suffering from a housing price bubble," he said Europe is not a panacea to strengthen the regulation said. President Bush the "G8 to resolve the financial crisis, let's hold an emergency summit" of the French president's proposal, the G20 has asked yeokjeanhae carry it. As well as strengthen the international financial regulations for the establishment of a new international monetary order of the attacks on European countries, emerging countries, because they expect you to act as a mediator.
G20 summit, the existing international economic order to take the dwieopneun France, Britain and the United States want to stop it and seize the boat was cast in the emerging market countries will get a chance to strengthen their position. The Financial Times (FT) 14 "G20 summit of the world economy shows the power to move and to the east," he said. Based on continued trade surplus up to the U.S. position on the chaegwonguk China, Saudi Arabia, and Korea and it is difficult to establish a new international economic order, the reality is that developed countries are beginning to admit.
China, Brazil and India and the International Monetary Fund (IMF) approved to expand the role of international organizations, such as the side is in the hands of Europe. However, because of a huge U.S. bonds and phase the U.S. dollar is expected to drop rapidly establish order in the new currency is in the passive position.
Chingang (秦刚) Chinese Foreign Ministry spokesman on October 13, "working with the IMF and other international financial institutions will have to overcome the present international financial crisis," the "IMF active role in the show," he said. To the 2,000,000,000,000 U.S. dollars, based on its China's foreign exchange reserves means that the international community is in the voice kiwooget.
But the G8 countries, including Japan, Germany and Russia to expand the role of emerging countries are objectionable. G20 chairman to Brazil and President Lula da Silva of the G8, Brazil, South Africa, China, India, Mexico and emerging countries, added 5 for the G13 proposal would reform the opposition said the 3 countries. To build a new international monetary order, is also a cautious stance.
FT the "G20 sides as the first meeting this year in the birth of a new international economic order will be hard to reach agreement on, but the establishment of a new world order to participate in the emerging countries, a symbol of the saints, is as important as the actual results," he said.
Jeongyoungoh reporters young5@hk.co.kr
U.S. economic hegemony in Europe neomboneun ambition ... "we solved a financial crisis"
Article Type 2008-11-15 06:01
[Choehyeoncheol JoongAng Ilbo. Gimseonha] the world financial crisis could be overcome to create a new economic order. This weekend's major 20 countries (G20) summit of the world's attention will be held in Washington said. From the summit of world leaders to fight against fierce than ever, said. I lost a lot of the power of the superpower United States, as the biggest reason why. President George W Bush's financial crisis in the world economy eojireophin juyeokin and is retiring soon. President Nicolas Sarkozy, France led Europe to raise the momentum is Yes.
But the U.S. president and so on ◆ Europe = France, a day before leaving for Washington 13 (local time), "only after the 2nd World War, the world's currencies, the U.S. dollar was no longer going to explain that was not the role," he said. France is set to daecheokjeom of the United States. France's ally as much as possible and engage in provocative is intended to strengthen its position.
Lost to the United States for economic supremacy in the two chatahohgi is aimed at the target. First of all, costs $. U.S. dollar print what you want to drag on the status of the world's currency of power demoted, naturally, the cross is a calculation. The complexity of China and Russia are tapping the calculator.
For the other one is a finance company director ganghwada. The European Union (EU) summit last week to open a speculative hedge fund regulation ▶ ▶ use tax regulations that cities and countries, such as enhancement of transparency requirements ▶ international credit agencies said. The making of the Financial Supervisory Agency chogukgajeokin is expected to file a claim. The strong influence the International Monetary Fund (IMF) and World Bank, international financial institutions, including the replacement of the new organization is also in the list of suggestions.
◆ cautious U.S. = 'teeth, a tiger,' Hell, I would never be the reaction if Bush is president. He hit the top of each country, a day before the 13 days flew to New York, Wall Street. A conservative research institute, Manhattan Institute, in a speech, "government intervention is not a panacea," he said. The "long-term solution to the financial reform is important, but the continuous economic growth," the "surest way to grow the market," he said. The making of the Financial Supervisory Agency chogukgajeok of Europe and then on to the front counter. "I strict regulations than the United States that Europe is suffering from a housing bubble" that the regulations to strengthen the European part of the world has peered twist.
Barack Obama is the president of the United States dangseonin his hands behind his back for the moment. Obama in the Clinton administration for a meeting with Secretary of State Madeleine Albright and former Republican Congressman Jim Rich, I send a representative. The Financial Times reported that "the government's economic policies affect Obama, who is not" the "Obama malryeodeulji do not want the discussion to be convinced," he said.
The U.S. and Europe gakin sinheungguk ◆ jegak watching the conflict between each other is the sembeop of the country. Taro Aso (麻生太郞) Japanese Prime Minister on July 14 "in Japan, the world is counting on" the "past, present and helping them to experience a financial crisis," he said. IMF to support the emerging countries, he 100,000,000,000 U.S. dollars is expected to propose that the naenotget. It is calculated that the power of money to buy influence. Such as China, Brazil, the leader sinheungguk to strengthen the voice is plenty. BEIJING (胡锦涛) to support developing countries to Chinese President Hu Jintao, Brazilian President Luiz Inacio Lula da Silva fell into a deadlock as the resumption of world trade meeting said.
Gimseonha choehyeoncheol reporters
Brazil's Foreign
Article Type 2008-11-15 06:32
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Finance, highlighted the need for lowering interest rates to prevent economic recession
(Sao Paulo AP) Brazilian Foreign Minister ahmoring selso gimjaesun By February-March of next year in the UK will open another round of the G20 summit on February 14 said that communication EFE reported.
According to the report, to be held in Washington, DC, to attend G20 summit with Brazilian President Luis Lula da Silva to perform or the Minister ahmoring to hold a press conference in Washington, "in February next year, once again talking to leaders in the UK at the beginning of March Open meeting, "he said.
The G20 ministers of Britain, the next ahmoring uijangguk to mention the fact that "Britain has a new summit to be held in a natural," he said. Brazil's current G20 is uijangguk.
The G20 summit in Washington in the reform of the international financial system is configured for the technology group, the specific proposal discussed in the next technology group, he said.
However, Brazil's Finance Minister prayer mantega "trust and transparency in all the countries for the recovery of the market and financial market regulations need to reform the financial system that is" the "way of regulations in the However, there can be differences," he Said.
The worldwide economic recession of mantega to prevent the spread of countries added to increase public spending "around the world, including Brazil to reduce the impact of the financial crisis in order to boost the economy it is necessary to cut interest rates," he said .
He also "provide liquidity to certain countries that enjoy the benefits gukgaman happens to prevent other countries to coordinate financial and monetary policy," he said.
fidelis21c@yna.co.kr
Article Type 2008-11-15 07:38 | Last modified 2008-11-15 08:11
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WASHINGTON (AP) By baksanghyeon the International Monetary Fund (IMF) and financial stabilization Forum (FSF) for the stability of the global financial markets to build an early warning system, said on September 14.
IMF and the FSF will be held in Washington DC on October 15 in G-20 summit of the participating countries in the future, sent a joint letter in the name of "suffering from the recent financial crisis, the urgent importance of cooperation between countries in the process of confirmation in hand, the cooperation in a crisis And a more sound financial system to cope with the development and implementation of the policy will contribute greatly, "he said.
IMF와 FSF는 따라서 사전에 위기발생을 예보할 수 있는 조기경고시스템을 구축하는데 협력할 것이라고 밝혔다.
FSF는 12개 주요 선진국의 재무장관, 중앙은행 총재, 금융감독기구 수장, IMF, 세계은행 등을 포괄하는 기구다.
조기경고시스템의 구축을 위해 IMF는 거시적인 관점에서의 금융리스크를 평가하고 FSF는 회원국 및 회원기구들의 분석을 토대로 금융시스템의 취약성을 평가하는 작업을 수행할 예정이다.
이러한 작업을 통해 IMF와 FSF는 공동의 리스크 평가 보고서를 작성해 발표할 예정이다.
shpark@yna.co.kr
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