Washington: It was no Bretton Woods 2.
European leaders had great hopes for the emergency summit that they persuaded lame-duck President George W. Bush to host—with some comparing it to the 1944 wartime conference at Bretton Woods, New Hampshire, when 44 nations created the International Monetary Fund and the World Bank.
European leaders had great hopes for the emergency summit that they persuaded lame-duck President George W. Bush to host—with some comparing it to the 1944 wartime conference at Bretton Woods, New Hampshire, when 44 nations created the International Monetary Fund and the World Bank.
Even though French President Nicolas Sarkozy and British Prime Minister Gordon Brown hailed Saturday’s meeting of global leaders as “historic,” they didn’t get what they wanted in terms of establishing a new brand of capitalism, dethroning the US dollar in a shake up of the world’s currency systems, or a quick-fix overhaul of the financial system.
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