New Global Economic Charter

German Chancellor Merkel is meeting up in Berlin with the heads of the International Monetary Fund, the World Trade Organization, the World Bank, OECD and the International Labor Organization. They are all here to discuss ways to cooperate globally in solving the economic crisis. They have issued a joint statement urging a reform on financial rules. A new "charter for sustainable economic governance" was signed to fight corruption and gain fiscal cooperation, as well as providing guidelines on social protection and working conditions. Chancellor Merkel is not happy with the actual trend of national economic protectionism. She wants governments to refrain from restraining trade between nations as they try to protect their countrys businesses. [Angela Merkel, German Chancellor]: "Despite today's troubled state of the global economy, all countries have a duty to resist protectionist tendencies, work towards tangible further opening of world trade and ensure that their stimulus packages do not disrupt trade." The World Bank President and the German Development Minister have launched a new project that will support microfinance institutions facing difficulties.

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YouTube | February 13, 2009

Tags:. .microfinance. .oecd. .merkel. .stimulus. .tangible