Gordon Brown has begun secret talks with other world leaders on far-reaching reform of the United Nations Security Council as part of a drive to create a "new world order" and "global society".More here:
Proposing sweeping changes to international institutions, Brown called for rapid response teams of police and experts to be set up that could be sent quickly to trouble spots to restore order and begin rebuilding after conflicts.Yeah, let's all take those massive budget surpluses that are propping up the failed capitalist economic model and throw them to the IMF and World Bank. Great idea.
He also called for the creation of a multi-billion dollar global climate change fund within the World Bank to finance environmentally sustainable development in the poorest countries.
Brown believes that the rapid spread of the credit crisis last year after problems with US subprime mortgages points to failings in global financial supervision that must be fixed.
"With financial markets and flows transformed by globalisation, I propose that - acting with the same independence as a central bank - the IMF should focus on surveillance of the global economic and financial system and thus prevent crises, not just resolve them," he said in excerpts of a speech he will deliver to business executives in New Delhi.
The IMF, working with the Financial Stability Forum - a group of central banks, regulators and international bodies - "should be at the heart of an early warning system for financial turbulence affecting the global economy," he said.