UKTelegraph 19 Jan 2010
Mervyn King said that unless politicians act to create an international body with the authority to reform the monetary system, the world would be consigned to another crisis in a matter of years. He warned that although much attention was being paid to efforts to overhaul the financial sector, in the meantime the global economic imbalances which fuelled the crisis were worsening.
The Governor has often voiced concern about these imbalances, under which rich countries have been reliant on borrowing to pay for cheap exports from overseas. In his speech at Exeter University last night, he indicated that in order to fix them, politicians would have to transform the multilateral institutions responsible for monitoring the global economy.
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Investigative journalist, Daniel Estulin exposed what was going on behind the scenes at the G20 held in Scotland in early-November, 2009. To hear the shocking information he shared with James Corbett, link to the interview here.