UN: Calls on Internation Community to Address Financial Crisis- Especially Currency Crisis!!!!
source: http://www.un.org//News/briefings/docs/2009/090908_UNCTAD.doc.htm
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- kingfugazi
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....There was not much hope on the financial side, he [General Assembly President, Heiner Flassbeck, Director of Globalization and Development Strategies at the United Nations Conference on Trade and Development (UNCTAD)] continued, explaining that business had been conducted as usual since a revival in March. The crisis had not only been caused by the housing crisis, but also by bubbles in the commodity markets, the stock markets and the currency markets. All the bubbles had collapsed at the same time. In the last six months, the same bubbles were being inflated again in a “primitive attempt to anticipate a recovery that was not yet there”, but they would deflate again when speculators realized that the global recovery was not as strong as anticipated. In addition, the currency crisis had been largely overlooked.....
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- groups:
- Community
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- tags:
- United States, UN, United Nations, Housing Bubble, 3 more
