Tag: G20

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Global Governance – Canadian perspective – Paul Martin

Colin Henderson

I am live blogging from the Friedrich Ebert Stiftung/ Munk Centre/ University of Toronto conference on Global Economic Governance.  The keynote speaker is Paul Martin (PM) who is up next.  Introductions first from Werner Puschra, Director, Friedrich Ebert Foundation, New York Office and John Kirton, Professor, International Relations Programme, G20 Research Group, Munk School of Global Affairs, University of Toronto.  Basically Martin a former PM of Canada is being introduced as the ‘father’ of G20. Notes on Martin begin here: Global governance requires a global steering committee covering these issues. breadth of issues priority results ability to reach out to … Continue reading Global Governance – Canadian perspective – Paul Martin

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Concern over banks and ‘dark pools’ reaches G20

Colin Henderson

A new concern has arisen over the growth of ‘dark pools’ or private unregulated trading exchanges, where banks and large investors are trading derivatives off balance sheet. IT is significant enough to have come to the attention of this weeks G20. Exchanges issue warning on spread of ‘dark pools’ | ft.com The world’s stock and derivatives exchanges on Tuesday warned the Group of 20 leaders that the continued “proper functioning” of their markets could not be taken for granted because of a proliferation of alternative trading venues such as “dark pools”. This is relevant because the near $ 1 trillion … Continue reading Concern over banks and ‘dark pools’ reaches G20

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“But the big ‘if’ is the speed of the cleaning up of [bank] balance sheets”

Colin Henderson

The head of the IMF continues to rightly focus on the need to clean up bank balance sheets.  To ignore them remains a central cause of lack of confidence which will hinders economic prospects due to the uncertainty caused by doubtful asset values. The more reason to adopt and move forward with Geithners measures right away. Hard times call for hard measures | Financial Times While there is no doubt that the forces for recovery are powerful, risks remain. Dominique Strauss Kahn, managing director of the IMF, told the Financial Times yesterday he expects recovery during the first half of … Continue reading “But the big ‘if’ is the speed of the cleaning up of [bank] balance sheets”

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Canada and India develop regulation proposals for G20

Colin Henderson

Deep in the Harper transcript this little gem indicating Canada and India have been working on the framework of a proposal for the G20 to consider on financial regulation. Transcript: Stephen Harper interview As you know, Canada has co-chaired with India the working group on future financial regulatory reform. We have a very good report which I think will gain consensus. Essentially, we did come down on that one in kind of a middle-ground position we hope will get the support of both the United States and Europeans and others. And that is, that we actually think it is important … Continue reading Canada and India develop regulation proposals for G20

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For the record – State Leader interviews before G20 – Financial TImes

Colin Henderson

Transcript: FT interview with Manmohan Singh – India Transcript: Stephen Harper interview – Canada Transcript: FT interview with Lee Myung-bak – South Korea Transcript: FT Interview with Sergei Lavrov – Georgia Transcript: FT Interview with Barack Obama – US Transcript: India’s security advisor on Obama Transcript: FT interview with Taro Aso – Japan Continue reading For the record – State Leader interviews before G20 – Financial TImes

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Transcript: FT interview with Taro Aso | G20

Colin Henderson

The FT is interviewing many of the G20 leaders this week.  Taro Aso of Japan makes a point here that is, so far, lost on the other leaders.  He is reflecting on the Japanese bubble of 1989, exemplified by a drop in land prices of 87%. He makes the point that dropping interest rates to zero will not bring back investment by itself while people and businesses are pre-occupied with reducing debt. Transcript: FT interview with Taro Aso | Financial Times It was back in [the early 1990s] that the Japanese bubble economy collapsed. At that time, land prices in … Continue reading Transcript: FT interview with Taro Aso | G20

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G20 draft communiqué & FT interview with Obama indicate more regulation coming to Banks

Colin Henderson

Lionel Barber at the FT interviews US President Obama in advance of the G20 meeting Thursday.  Despite the broad sweeping answers it seems unlikely that we will see much tangible outcome from the session, but the G20 draft communiqué (below) is clear about stronger regulation. Obama interview: Full text | Financial Times FT: Let’s talk about the G-20. What will be your benchmarks for success? Obama: The most important task for all of us is to deliver a strong message of unity in the face of crisis. There’s some constituent parts to that. Number one, all the participating countries recognise … Continue reading G20 draft communiqué & FT interview with Obama indicate more regulation coming to Banks

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France fears backsliding on regulation

Colin Henderson

Ms Legarde was a bright star and clear thinker at the recent World Economic Forum.  There is not yet broad agreement on the methodology and priorities amongs the countries as to resolve the global crisis. In another interview she offers some indication of how globalisation actually works, and the comparison of UK and US approaches is stark.  There is a long history between UK and France, and now is not the time to let that get in the way. Transcript – Christine Lagarde – Finance Minister – France | ft.com BH: Are they retreating in Washington and London? CL: I … Continue reading France fears backsliding on regulation