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G7 agrees global rescue plan

Guardian - A crisis meeting of finance ministers and central bank governors from the west’s seven leading economies last night agreed to take “urgent and exceptional action” to bail out banks amid fears that a fresh wave of panic had pushed the global financial system to the brink of collapse.

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Keynes is innocent: the toxic spawn of Bretton Woods was no plan of his

Guardian - As the global financial crisis deepens, the rich nations will be forced to recognise that their problems cannot be solved by tinkering with a system that is constitutionally destined to fail. But to understand why the world economy keeps running into trouble, they first need to understand what was lost in [...]

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Work with the world

Guardian, by Jeffrey Sachs - A mess has accumulated through years of household excesses, unregulated finance and woefully deficient government leadership. We need to turn this around, but can’t do so overnight. Let’s batten down for the recession, work with the world to keep it as limited as possible, and plan to emerge [...]

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Nobel Economists Offer First Aid for Global Economy

Spiegel - Five winners of the Nobel Prize for economics share their views on what the future global finance order should look like in exclusive essays for SPIEGEL.

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