G7 Response to Financial Crises – Another Band-Aid

The frequent financial crises of recent years has exposed the systemic instability of global finance and resulted in devastating impacts on human development. Financial liberalization has meant that governments have lost their ability to control the global flow of capital, thereby surrendering monetary and economic policy sovereignty to investment firms and large banks.

These financial crises revealed the degree to which financial markets are under-governed in the global economy. An enormous discrepancy exists between an increasingly sophisticated international financial world and the lack of proper institutional frameworks to regulate it at the national and multilateral levels. The inevitability of future crises makes the re-regulation of capital a global imperative.

CBC Interview

CBC’s “The Current”
June 18, 2003
Damming Evidence: Canada and the World Commission on Dams  
It's the most expensive construction project in the history of the human race, and one of the largest.
 
The Three Gorges dam project in China won't be finished until 2009, but this month it passed a symbolic landmark. Engineers closed the dam's sluice gates and for the first time the mighty Yangtze was blocked. The enormous reservoir behind the dam is now starting to fill with water.

 
GLOBE AND MAIL, JUNE 12, 2003
Dam promotion draws fire
Canadian support ignores environment, homelessness concerns, coalition says
 
By GEOFFREY YORK
Thursday, June 12, 2003 - Page A14
 

Wall Street Journal (10/11)
World Bank Chief Blocks Romanian Gold-Mine Loan

By Neil King Jr.
 

Acres Int'l convicted in African bribery case
Engineering firm shocked; plans appeal

Travelling Road Show helps raise public knowledge of G-8
(PDF file) - [Lethbridge Heald]

Activists struggle to be heard
(PDF file) - [Calgary Hearld]

As next week's summit looms, activists find a 'perimeter of fear' keeps them far away from the action
G8 leaders bring differing priorities to the table. Activists, meantime, aren't even being allowed in
By DAWN WALTON

Friday, June 21, 2002 Print Edition, Page A6

CALGARY -- While African development is supposed to be the central focus at next week's meeting of world leaders, access denial is becoming a major theme for globalization opponents.

Calgary Herald June 15, 2002
 
Give Africa more of a say in its own future: coalition
By Allison Auld - The Canadian Press
 
Group of Seven countries must cancel soaring debts that impoverish African nations and revise aid programs to better suit the needs of people in countries that languish under heavy financial burdens, a coalition of activists said yesterday.