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Reforming Global Finance: Scenarios and Expectations (March 2009)

Rethinking Bretton Woods | Sun, Mar 8, 2009

By Aldo Caliari
Every day new figures on the impacts of the financial crisis reveal its depth and severity. Many observers concur that major reforms usually come after major catastrophes, so given the seriousness of the crisis, we may be about to witness a radical transformation of the international economic system. But, is that so? In this article especially commissioned by IslamOnline Aldo Caliari says there are more basis to side with the skeptics who forecast only cosmetic changes will be introduced (... unless the crisis gets much worse).