Global News Journal

Criticise Italy at your peril!

July 10, 2009

Attacks on Italian Prime Minister Silvio Berlusconi in the British press have hit an especially raw nerve as he hosts this year’s G8 summit and some Italian newspapers have had enough.

from FaithWorld:

Pope urges bold world economic reform before G8 summit

July 7, 2009

popePope Benedict issued an ambitious call to reform the way the world works on Tuesday shortly before its most powerful leaders meet at the G8 summit in Italy. His latest encyclical, entitled "Charity in Truth," presents a long list of steps he thinks are needed to overcome the financial crisis and shift economic activity from the profit motive to a goal of solidarity of all people.

Germany’s Finance Minister takes aim at the City

July 2, 2009

Has German Finance Minister Peer Steinbrueck finally said what many world leaders think but are afraid to say? That the British government won’t sign up to meaningful reform of financial markets because it is too worried about what it would mean for the country’s most famous cash cow, the City of London.

from The Great Debate UK:

From afar, G8 seeks a handle on Afghanistan

June 25, 2009

Luke Baker- Luke Baker is a political and general news correspondent at Reuters. -

The mountains and deserts of southern Afghanistan are far removed from the elegant charms of Trieste in northern Italy, but there will be a link between the two this weekend.

What will be the shape of the world’s new financial order?

October 22, 2008

A man protests outside the New York Stock Exchange October 13, 2008. Governments around the world bet hundreds of billions of dollars to rescue failing banks on Monday, sending world stocks soaring and giving Wall Street its biggest one-day gain ever. REUTERS/Shannon Stapleton (UNITED STATES)The global financial crisis has produced broad agreement that the world needs a new financial architecture, but world leaders are a long way from reaching agreement on what shape it should take.

“I told you so!” Merkel tells U.S., Britain

September 22, 2008

German Chancellor Angela Merkel delivers a speech to members of her conservative Christian Democrats in Berlin, September 22, 2008. Wage gains in Germany have been moderate in recent years, and this will likely remain the case, Merkel said on Monday. REUTERS/Tobias Schwarz

German Chancellor Angela Merkel sent a clear “I told you so!” to the United States and Britain at the weekend, criticising them in unusually frank terms for resisting measures that might have contained the current financial crisis. The conservative leader of Europe’s largest economy reminded her partners that she had pushed for steps to boost the transparency of hedge funds during Germany’s presidency of the Group of Eight last year. ”We got things moving, but we didn’t get enough support, especially in the United States and Britain,” she told the Muenchner Merkur newspaper. Merkel expanded on her point in a speech in Austria, suggesting that both Washington and London were only now coming around to her view.