Obama to Ignore European Effort; Push for Global Stimulus at G20

The U.S. will press world leaders to boost emergency government spending to lift the global economy, risking a rift with European nations more concerned with revamping financial regulation.

Wall Street Journal

In President Barack Obama’s first foray into economic diplomacy, Washington will urge the shift at a summit next month in London, U.S. officials say, as markets look for a unified plan of action from the world’s most economically powerful nations.

Washington’s focus is at odds with France, Germany and other European nations that want the Group of 20 summit on April 2 to focus on rewriting rules governing financial markets. These nations say lax regulation was a major cause of the financial crisis and want to tighten their grip on hedge funds and private-equity firms.

All sides are looking to avoid a breakdown at the summit that would roil markets…

Read the rest:

http://online.wsj.com/article/SB123
655587029066001.html

Related:
World Bank: Global Trade Drops Most in 80 Years; What’s it Mean For Obama?

NYT Urges Obama To “Bail Out” Third World Too

 Despite Global Economy Downturn, China Still Lending

 World Bank Says Global Economy Will Shrink in ’09

 Obama has little reason to fall in with the G20

http://conservativemeanderings.wordpress.com
/2009/03/09/the-left%E2%80%99s-new-talking
-point-the-327-trillion-stimulus-was-too-small/

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One Response to “Obama to Ignore European Effort; Push for Global Stimulus at G20”

  1. Ras Seymour Mclean Says:

    President Barack Obama

    Office of the President

    C/o the American Embassy

    24 Grosvenor SQ

    London W1A 1AE

    12 February 2009

    Urgent and Confidential

    Mr President,

    Please accept our Ras Tafari greetings and best wishes, in the name of His Imperial Majesty Emperor Haile Selassie I. King of Kings. Lord of Lords. Conquering Lion of Judah . Defender of the Faith. Father of African Unity. Ras Tafari.

    Please refer to our previous correspondence, concerning the G20 meeting this April in London, and to update your office of the planning objectives, unless changing circumstances cause you to abort the planned meeting in April, it is of the utmost urgency that you do not leave London empty handed and unable to agree a correct policy to impact upon the global economic events, and to plug the dangers of a whirlpool effect should one or more of the G20 economies become victim like the banks in London and America of the failed enforcement system leading to the ongoing convulsions started in London and America affecting the global economic community and the reason for this G20 meeting.

    Measures must also be agreed to protect the smaller economies who are more vulnerable to failed economic systems exposing again the unacceptable face of capital only based systems who quickly become victims of predators from within.

    T combat this present crisis before your meeting in April, we recommend you cause to be audited the resources of the World Bank, I.M.F., and E.C.B, and to establish the strength of the economies untainted by deliberate action. Through agreed procedures we wish to establish early warning of any major economy in need of supportive action, we do not support the “Bail out” policy current for the London and American Banks, as a way forward for national economies, you are able to measure the public distaste even among elected representatives of your own Country for that policy.

    In the absence of any agreement from the policy coordinators and G20 secretariat, we submit direct and sustained Government supervision of the financial sector, within and without the G20 area be considered as an agreed way forward, this policy can be applied to others sectors in isolation or as required, that a strengthened global enforcement regime under the authority of the Secretary General of the United Nations be authorised to conduct an effective audit of all the U.N. economies and to apply new standards and enforcement procedures to the same.

    The complicity of the host, who would normally Chair such a meeting gives us cause for concern, as national self interest is not in order, a joint or independent chairman is recommended.

    That you do not leave London completely empty handed, our spiritual and cultural policy objective is that you will be presented with digital copies of six of the Ecclesiastical manuscripts from the Royal Library as an act of faith, Her Majesty the Queen will receive you at Buckingham Palace, that your leadership be fortified by faith, hope and confidence during these changing and testing times.

    A copy of this correspondence will be forwarded to all G20 members, World Bank, I.M.F., E.C.B. and European Union attending the meeting.

    And so, Mr President, assuring you, your officers and your peoples of America of our highest consideration we recommend you to the protection of the Almighty.

    I am Ras Seymour Mclean

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