Declaration on Strengthening the Financial System
The Global Plan Annex - Declaration on Strengthening the Financial System has been published. It is a good start, although it appears to have been watered down by the US-UK-Japan Axis of Improvidence.
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Could you specify the watering down?
April 2, 2009 5:22 PM | Reply | Permalink
For example, throughout the "Prudential regulation" section the verb "should" is used, rather than the more emphatic "shall" or the more commanding "must" or the more expectant "will".
In the subsequent section on "The scope of regulation" the verb "will" is used, and fairly frequently. But note that the section begins with "should be subject to an appropriate degree of regulation and oversight" where the adjective "appropriate" weakens it.
Here is the G20 site, and here is the London Summit site.
April 2, 2009 6:49 PM | Reply | Permalink
I see. That's sort of like my "could-squared" complaint about Obama in January. I notice that shortly thereafter I started seeing his language get "harder" and people started taking him more seriously.
I don't have time to review the details here to see who called for what "soft" language where (and thus to justify your "axis" notion), but I do see the point about how soft language is not as "serious".
April 3, 2009 3:57 PM | Reply | Permalink