Tuesday, March 17, 2009

Russia for global financial reforms

Russia will push for sweeping global financial reforms designed to weaken U.S. dominance and replace the dollar with a new “super-national reserve currency

Russia is getting agressive day by day.... Russia is open to criticism of US... china is a little conservative, as it is currently dependent on US, when it becomes self-sufficient, it will go out even harder at US

“The obsolescent unipolar world economic order should be replaced by a system based on the interaction of several major centres,” said the six-page document posted on the Kremlin website on Monday.

How much of it can russia achieve is the question.... how strong would be US after recession ends (if it ever ends)... a world without dollar dominance is anyway better

Russia has proposed hammering out the principles for a new global financial system at a post-G20 international conference. Russian President Dmitry Medvedev on Sunday called for international control over irresponsible decisions of individual countries that disrupt world finances.

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