Search

 

Cablegate: Global Economy; Financial Crises

VZCZCXYZ0013
OO RUEHWEB

DE RUEHSO #0541 2830900
ZNR UUUUU ZZH
O 090900Z OCT 08
FM AMCONSUL SAO PAULO
TO RUEHC/SECSTATE WASHDC IMMEDIATE 8583
INFO RHEHNSC/NATIONAL SECURITY COUNCIL WASHDC IMMEDIATE
RUEHBR/AMEMBASSY BRASILIA PRIORITY 9714
RUEHRI/AMCONSUL RIO DE JANEIRO PRIORITY 8880
RUCPDOC/USDOC WASHDC 3184

UNCLAS SAO PAULO 000541

SIPDIS

STATE INR/R/MR; IIP/R/MR; WHA/PD

DEPT PASS USTR

USDOC 4322/MAC/OLAC/JAFEE
E.O. 12958: N/A
TAGS: KMDR OPRC OIIP ETRD XM XR BR
SUBJECT: GLOBAL ECONOMY; FINANCIAL CRISES

Financial War

Editorial in liberal Folha de S. Paulo (10/08) says: "The news on
the financial crisis evokes a scenario of a world war, with several
fronts spread all over the planet- from Australia to Brazil, from
China to Russia, from Germany to the United States..., The multiple
combatants, however, show themselves weak and dysfunctional facing a
threat that does not respect borders - or even worse, it gains force
when there is a lack of a coordinated action to attack it.
Discredit in the financial system is global, but the approaches to
face it are national, limited and heterogeneous... It would be a
waste that one of the most powerful tools of the Fed, the reduction
of short term interests, were used without articulation with other
countries that are going through the same situation, something that
already causes despair. A worldwide and synchronized decrease in
the cost of loans would increase the chances that the collapse would
be at least staunched. At this moment, the news that the crisis had
reached its limit would already be good news."
White

© Scoop Media

 
 
 
World Headlines

 

APEC : Leaders Issue Kuala Lumpur Declaration

The leaders of the 21 APEC member economies issued the Kuala Lumpur Declaration following the first-ever virtual 27th APEC Economic Leaders’ Meeting chaired by Malaysian Prime Minister Muhyiddin Yassin. Convening for the first time since the ... More>>

UN: Refugee Resettlement Numbers Fall To Lowest In Two Decades

Refugee resettlement numbers will be at a “record low” this year, the UN refugee agency (UNHCR) said on Wednesday, with only 15,425 people resettled in the first nine months of 2020, compared to more than 50,000 in 2019. In 2016, resettlement ... More>>

OHCHR: UN Committee Issues Recommendations To Combat Racial Profiling

The Committee on the Elimination of Racial Discrimination today published its guidance to combat racial profiling, emphasizing, among other issues, the serious risk of algorithmic bias when artificial intelligence (AI) is used in law enforcement. The ... More>>

G20: Global Co-Operation And Strong Policy Action Needed For A Sustainable Recovery

The COVID-19 crisis has exposed major weaknesses in our economies that can only be fixed through greater global co-operation and strong, targeted policy action, according to a new OECD report presented to the Leaders of the G20 countries at their ... More>>