Word: summiteer
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Dates: during 2000-2009
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...economies developed and globalized. As part of that evolution, financial trading began spanning borders and generating previously unimaginable transactions through highly-leveraged and complex derivatives - all within a virtually unregulated atmosphere that national governments couldn't manage to police. Sarkozy and his European partners hope that the Nov. 15 summit can come up with a scheme of common rules governing global finance - with the IMF possibly acting as the world regulator. Not everyone is optimistic that will happen...
...Sarkozy set high expectations for the summit by calling for the "moralization of financial markets" and a wider push to "re-found the capitalist system." When he and Bush announced the agreement for the summit, the French President envisioned a new regime to prevent "those who have led us to where we are today from being allowed to do so once again." Bush's emphasis was elsewhere: he talked of common rules to "preserve the foundations of democratic capitalism, (and) the commitment to free markets, free enterprise and free trade." So which will...
...Even Elysée officials say it's impossible to know what a congress of nearly 20 national leaders will yield. "The fact that President Bush agreed to the summit is, in our view, a very significant development in itself," says Sarkozy spokesman Franck Louvrier. "As to exactly what will happen, it's too soon to know." So much for Sarkozy's swagger in insisting on major revision to aspects of the 1944 Bretton Woods treaty."Europe wants it," he said. "Europe demands it. Europe will get it." But observers suggest what emerges may not be exactly what Europe...
...even if the summit yields trans-Atlantic agreement on tougher regulations, Lannoo says the new determination to substitute sobriety for greed may be a harder line to sell to emerging nations. "Lots of countries in Africa, Asia, Middle East, and South America are going to say, 'these are reactions to your problems created by your systems - why should we listen to anything you say now?'," Lannoo says. "The challenge isn't just finding ways to prevent future excess, but also to convince nations like China and India to agree to turn off the music and quiet down when they...
...consistently denied media requests to answer this question, but a few brave acolytes have tried to defend him. Their answers fall back on two points: that Mr. Gore’s unique messenger status means it is his political actions, not his personal choices, that matter; and that his summit-filled lifestyle would make it hard to be a vegetarian...