(Reuters) - Leaders of the BRICS emerging market nations meet next week to launch a development bank and emergency reserves fund, an ambitious challenge to Western-run multilaterals that have shaped global finances since the end of World War Two.
Showing posts with label global financial system. Show all posts
Showing posts with label global financial system. Show all posts
September 25, 2011
Euro crisis: three perspectives
WASHINGTON D.C. (CNNMoney) -- George Soros, the billionaire hedge fund manager and philanthropist, warned Saturday that failing to resolve the sovereign debt crisis in Europe could lead to a "real meltdown" of the global financial system.
His remarks came while on a panel with Olli Rehn, the top economic and monetary official at the European Commission, and Gao Xiqing, the head of China's sovereign wealth fund, who also commented on the debt crisis in Europe.
His remarks came while on a panel with Olli Rehn, the top economic and monetary official at the European Commission, and Gao Xiqing, the head of China's sovereign wealth fund, who also commented on the debt crisis in Europe.
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