Italian Leader Wants a World Time Out for Leaders to Contemplate New International Financial Order
Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance.''
"The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis "can't just be for one country, or even just for Europe, but global.''
According to this article, they're considering a new Bretton Woods type of agreement in which gold would once again play a role in backing currencies. The question becomes, "Will this mean a new currency for Western nations?"
"The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis "can't just be for one country, or even just for Europe, but global.''
According to this article, they're considering a new Bretton Woods type of agreement in which gold would once again play a role in backing currencies. The question becomes, "Will this mean a new currency for Western nations?"
