WTO General Director appeal to reform of the international monetary system

[HPCforex]

World Trade Organization (WTO) Director-General Pascal Lamy appeal to reform of the international monetary system, to reduce exchange rate volatility and thus promote global trade.
Lamy said in a seminar, oppose Governments to take protectionist measures when the exchange rate misalignment and domestic producers caused unfair harm.
Lamy said, many WTO member countries, especially member of developing economies states that, accompanied by the financial crisis, exchange rates fluctuate significantly harm them.
Lamy said, Governments need to reform the international monetary system, to support trade and to ensure that capital inflows to the most productive areas in the global economy.

 

[fcvnyc]

Everybody talks about the need to reform the international monetary system so that exchange rates are less volatile, currency speculation is reduced and that capital can flow to the most productive areas in the global economy. Such changes can only happen when the international monetary system is transformed, i.e. based upon a monetary standard with the proper institutional framework of a Global Central Bank. The International Institute for Monetary Transformation has proposed a carbon standard to combat global heating, this century’s major problem and challenge. For details consult IIMT - HOME OF THE TIERRA SOLUTION and my book "The Tierra Solution: Resolving the Climate Crisis through Monetary Transformation" that is published by Cosimo Books and that will be available at the end of the month.