Renaissance Lost, Pan Cogito Proposes International Endowment For the Arts And Humanities And Alfred Nobel Memorial Prize For Music Composition

Leaders' Statement: The Pittsburgh Summit
September 24 – 25, 2009

PREAMBLE

1. We meet in the midst of a critical transition from crisis to recovery to turn the page on an era of irresponsibility and to adopt a set of policies, regulations and reforms to meet the needs of the 21st century global economy.

2. When we last gathered in April, we confronted the greatest challenge to the world economy in our generation.

3. Global output was contracting at pace not seen since the 1930s. Trade was plummeting. Jobs were disappearing rapidly. Our people worried that the world was on the edge of a depression.

4. At that time, our countries agreed to do everything necessary to ensure recovery, to repair our financial systems and to maintain the global flow of capital.

5. It worked.

6. Our forceful response helped stop the dangerous, sharp decline in global activity and stabilize financial markets. Industrial output is now rising in nearly all our economies. International trade is starting to recover. Our financial institutions are raising needed capital, financial markets are showing a willingness to invest and lend, and confidence has improved. ...

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Nobel Prize Foundation

International Monetary Fund

now-defunct American National Endowment for the Arts

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Header credit: Julian Schnabel Divan Oil, plates, wax and bondo on wood 1979

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