Global Co-Operation On Financial Reforms Needed: IMF |
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January 31, 2010
International Monetary Fund Managing Director Dominique Strauss-Kahn on Sunday urged the United States, Britain and other countries to cooperate on new policies and regulations in the wake of the financial crisis.
International Monetary Fund Managing Director Dominique Strauss-Kahn on Sunday urged the United States, Britain and other countries to cooperate on new policies and regulations in the wake of the financial crisis.
He told the annual Herziliya Conference that at the onset of the crisis, world leaders were "scared" and agreed to work together to end the crisis. But now, countries are formulating policies on their own.
"That doesn't work. The lesson of co-operation is still necessary," Strauss-Kahn said, citing U.S. President Barack Obama's plans to curb activities at major banks, particularly betting in financial markets with their own money.
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