---------- Forwarded message ----------
Date: Mon, 21 Dec 1998 10:48:16 -0500
From: Robert Weissman <[EMAIL PROTECTED]>
To: Multiple recipients of list STOP-IMF <[EMAIL PROTECTED]>
Subject: Italy: IMF as world government
IMF must become "embryo of world government": Italy
Date: Thu Dec 17 17:01:15 CST 1998
ROME, Dec 17 (AFP) - The International Monetary Fund's interim
committee must become "the embryo" of an economic government for
the world, Italian Treasury Minister Carlo Azeglio Ciampi said
Thursday.
Ciampi's comments back recent calls by France and the IMF's
French managing director Michel Camdessus for the interim council
to become a body producing binding directives rather than
recommendations, as it currently does.
Ciampi, who became chairman of the interim committee in
October, said it should, in the future, be able to discuss ideas
coming from major exchange centres in the world.
He said that the commitee, made up of 24 finance ministers
representing countries or groups of countries, should "become the
main channel of communication between the international financial
community and national decision-makers."
"Recent experience has shown that in a global economy, where
the is a higher risk of the propagation of financial crises, it
is necessary to reinforce the instruments for intervention by the
international financial institutions."
