Monday, April 07, 2008

Government! ... "Bah! Humbug!" ... ['Light The Passion, Share The Dream' Of Universal Human Rights In China, Xinjiang, And Tibet]

"Government intervention at a global level is required to tackle the credit crisis, according to the head of the International Monetary Fund, who has warned that market turmoil will take a serious toll on world growth.

Dominique Strauss-Kahn, IMF managing director, told the FT: “I really think that the need for public intervention is becoming more evident.”

Government intervention – whether in the securities market, the housing market or the banking sector – would act as a “third line of defence” supporting monetary and fiscal policy, he said.

The controversial call comes days before world finance ministers and central bank governors meet in Washington DC for the spring meetings of the IMF and World Bank. Policymakers will discuss the credit crisis and steps to address it. ...

Mr Strauss-Kahn’s call will increase pressure on them to act. The Institute of International Finance, an association representing big banks, last week said there was a “growing case” for government intervention.

Krishna Guha "IMF head calls for global action on turmoil" Financial Times April 7, 2008

A European Union government strives to protect the People's Republic of China's government image by encasing in a bus the Olympic torch to the 2008 Beijing, China/Drapchi, Tibet Summer Games.

Amnesty International

International Campaign for Tibet


Photo credit: (c) Jacky Naegelen and Reuters, 2008. All rights reserved. Via The New York Times. With thanks.


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