One small step forward

An agreement by all 192 UN states on the financial crisis acknowledges our global interdependence

Joseph Stiglitz, Sunday 28 June 2009
guardian.co.uk

Last week, something unusual happened: the international community, coming together at the UN to discuss the global financial crisis and its impact on the developing world, reached a consensus on an agreement. This spelled out the issues to be addressed and laid out the way forward. Many had said it would be difficult for 192 countries to reach consensus, and that was why discussions should be limited to a self-selected group of 20. In fact, the UN agreement was stronger and more forceful than the G20 communique.

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