Tuesday, June 16, 2009

The Debts of the Lenders: BRIC Members Issue Call For Financial Diversity At SCO Meeting

And the drama continues....

(AP:YEKATERINBURG, Russia) Brazil, Russia, India and China say the world needs a more diversified international monetary system.

The four so-called BRIC nations are concluding their first summit with a final statement calling for the reform of global financial institutions to reflect changes in world economy.

They said Tuesday there is a strong need for a stable, predictable and more diversified global monetary system and urged support for a more democratic and just "multipolar" world order.

There was no explicit mention of the U.S. dollar or the United States in the statement.
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