World needs new Bretton Woods, says Brown
Monday, October 13th, 2008
AFP
October 13, 2008
Speaking as the government announced its latest move to try to stabilise the creaking banking system, Brown said the current crisis should be seen as an opportunity to push through delayed reforms.
“Sometimes it takes a crisis for people to agree that what is obvious and should have been done years ago, can no longer be postponed,” he said in a major speech on the fast-moving world financial crisis.
“We must create a new international financial architecture for the global age,” adding: “We must have a new Bretton Woods — building a new international financial architecture for the years ahead.”