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Essay / Research Paper Abstract
This 7 page paper looks at the argument in favor of global financial reform, looking at whether or not there should be an international response to the international problems caused by the 2008/9 recession and if measures, such as the creation of a global bank to manage and control may be a good move. The bibliography cites 7 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEglobgovern.rtf
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Unformatted sample text from the term paper:
by many governments in order to find solution and to protect their banks, and financial markets. The use of measures has been based mainly on national initiatives with programs to
lend money to the banks, effective nationalization and support given in other firms, such as relaxation of rules. These have had mixed results, although there may be some relief and
a lessening of the impact, it may also be seen as a move that has been controversial and very expensive, with the spending of public money that has taken place
requiring many years, in not decades to recoup through the general taxation. There is little doubt that there has been some success, without these many banks may have collapsed causing
further decline in the national economies, but this national approach has been argued ad to narrow when dealing with a global issue. Peter Mandelson has stated "Politicians need to
recognise that national solutions are only half the solution. For years, financial markets have been global more than national, yet they operate with limited multilateral coordination of governance. Asset bubbles
in one market can have serious consequences in another. The effects of monetary and currency policy are easily exported. Yet the machinery of global economic governance barely exists"1 This appears
to be a very valid approach, in other areas where impact of a particular event or phenomenon may have international impact there are often moved to coordinate national efforts or
there may be an international response; this has been seen with health issues as well as disaster relief. Therefore, the idea of an international response to an international problem is
not new. However, there are some issues when t comes to management international markets, there are issues of sovereignty and interference, there are also theories that will argue that markets
...