Financial System Needs Reform, Not a Straitjacket

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Representatives of some 20 nations arrive here tomorrow to erect a new architecture to house the world’s financial system — “a new global order”, is the description British Prime Minister Gordon Brown uses for this project.

To prepare for this meeting of the G20 industrialized and emerging nations, Europe’s leaders set down the principles they intend to have President Bush sign onto. And — get this — they gave America a 100-day deadline to agree to their plans.

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