Berlusconi Says Leaders May Close World's Markets

http://www.bloomberg.com/...5mpMUORBWM

Berlusconi Says Leaders May Close World's Markets (Update1)

By Steve Scherer

Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''

The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.

Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system

the same Bretton Woods America strong-armed and ruined I hope?

face it, Capitalism is Dead and hopefully this is finally the catalyst for a peoples uprising against the slave-owners and money men.

Please do not ever quote that man or give him any mention.

I know he's elected . . . but he is the worse thing to hit Italy since Mussolini.

I cannot believe he was reelected, even while on trial, and under indictment on other charges some of which related to his actions as previous Prime Minister.

What he has done to Italy and seemingly with their permission.
He's worse for Italy than Marion Barry was for D.C.

That a Western democracy would put that man back in power after he's repeatedly shown he is not to be trusted with power anywhere, in the corporate world or politics embarrasses everything we say stand for.