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Europe Global Environment & Development The New South From G8 to G20 The Development Agenda UN Reform Global Finance Doha Final The Euro-zone in Crisis Eastern Europe

Just Repeating Old Commitments Is Not Enough

Expectations to the G8 summit in Italy

The crisis, which originated within the world’s major financial centers, has spread throughout the global economy, causing severe social, political, and economic dislocation and a rise in social conflict and distress. As Amnesty International warned, the world is sitting on a "powder keg" of social unrest. For the G8 roadshow this week in Italy repeating old commitments is not enough, says Eveline Herfkens.


Developing countries, which are least responsible for the crisis, are now bearing the brunt of its impact. The human costs are dramatic, as government budgets have been slashed cutting investment in human development while unemployment continues to rise as producers lose markets – local and international. Reduced household income translates into worsening nutrition, lower school attendance of girls and deteriorating health, as visits to clinics are postponed ...

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More on the subject:

>>> Proposals for a Profound Reform of International Finance
>>> Increased IMF Funding without Reform?

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