G7 sets sights on 'new world economic order'

[ChristineMarie]

ROME (AFP) – The world's richest nations called Saturday for urgent reform of global finance to save the world from the economic devastation that is dragging more and more countries into recession.

Italy's Finance Minister called for a "new world economic order" as he wrapped up the crisis meeting of finance leaders from the Group of Seven leading economies over which he presided here.

In a joint declaration, the G7 called for "urgent reforms" of the international financial system.

http://rawstory.com/news/2008/G7_set...orld_0214.html

[ChristineMarie]

Finance leaders from the Group of Seven rich nations on Saturday called for "urgent reforms" of the international financial system, after talks on forging a way out of the world economic crisis.

They vowed to avoid protectionism as they seek to stabilise the tottering world economy and financial markets and said stabilisation of the world economy was their top priority, in a final declaration after two days of talks.


http://news.theage.com.au/breaking-n...0215-87t9.html

[ChristineMarie]

Buzz words here....Bretton Woods and Reform