The leaders of the Group of 20, at their summit meeting in Pittsburgh (USA), must commit themselves to reform of the World Trade Organization to build financial stability, and pull the plug on the "lunatic idea" of further deregulation of the services trade and in particular, of trade in financial services on the Doha Round agenda.
In a report, "No Meaningful Safeguards for Prudential Measures in World Trade Organization's Financial Service Deregulation Agreements," released on the eve of the Pittsburgh summit, the Washington-based Public Citizen challenged the view of the WTO officials and proponents of the WTO that GATS only calls for liberalisation of trade in financial services, and not deregulation, or that the "prudential carve-out" in the GATS Financial Services Annex provides a safe harbour against regulatory challenges.
Read more here: http://www.twnside.org.sg/title2/wto.info/2009/twninfo20090921.htm
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