Stricter Financial Rules for World Leaders

November 15, 2008

Washington (Chattahbox) — World leaders are finalizing tougher and stricter financial rules at the emergency economic summit. They are busy chalking out a new warning system that would prevent the world from plunging into another financial crisis in the future. The on-going financial turmoil across the globe has pushed the world on the very verge of a financial collapse risking the livelihood of billions of people across the globe. They are working towards tougher accounting rules and other modest steps that would prevent any such future crisis.

Washington is hosting the emergency economic summit that includes leaders from all around the world. It is one of the largest meetings in the last decade where President George W. Bush and some two dozen world leaders will be discussing more transparency in the financial markets. They will also be discussing the risk of speculation and the frenzied investments made by large banks and financial institutions.

“The stakes are indeed high,” Bush said on Friday. “Billions of hardworking people are counting on us to strengthen the financial system for the long term.” The closed door meeting will result in a joint communiqué that will be issued on Saturday which would tighten the reigns on the operations of the financial markets their transparency. It would also means that the financial system will be more answerable to the investors and would work under more vigilant eyes of the regulators and diplomatic officials.

There are two main agenda of this emergency meeting – reviving the ailing economies and exploring the options for overhauling the global financial system to prevent any similar conditions in future. The global leaders will be discussing the some of the remedial steps to save jobs and revive people’s savings.


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