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Hmmm…

In the run-up to April’s G20 meeting, Russian Finance Minister Alexei Kudrin has proposed an alternative to the Financial Stability Forum, which, he points out, excludes the BRIC economies.  Writing in Voprosy Ekonomiki over the weekend, Kudrin pointed out ‘a need for an international authority whose recommendations are mandatory’.  Not sure exactly what he means by ‘mandatory’ here – the last G20 pledge not to raise trade barriers wasn’t exactly optional… 

Presumably the financial world needs a stronger regulatory authority because these commitments are so easily sidestepped…?

The Guardian has a summary of Kudrin’s article here.