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This website is in imminent danger of being shut down. It has been online since 1995, but the personal circumstances of the owner, Malcolm Farnsworth, are such that economies have to be made. Server costs and suchlike have become prohibitive. At the urging of people online, I have agreed to see if Patreon provides a solution. More information is available at the Patreon website. If you are able to contribute even $1.00/month to keep the site running, please click the Patreon button below.


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G7 Communique Pledges Action To Restore Credit Flows

The G7 Finance Ministers, meeting in Washington, have pledged to take “urgent and exceptional action” to “stabilize financial markets and restore the flow of credit”.

What is the G7?

The G7, Group of Seven, is made up of the finance ministers of the United States, the United Kingdom, Germany, Italy, France, Japan and Canada. They meet periodically to discuss economic issues.

The G8 consists of the heads of governments of the same countries, plus Russia.

[Read more…]


Swan Lauds Australia’s Economic Reforms

The Treasurer, Wayne Swan, has lauded Australia’s economic reforms of recent years in a speech to the Brookings Institution in Washington DC.

Swan said: “Over the past 25 years, Australia has done much to liberalise the financial sector.  But in doing so we were careful to develop a model that regulated systemically important institutions and that centralised regulation of deposit taking institutions.  In doing so we ensured clear responsibilities within our system.  This meant we were better placed than most to respond when the crisis emerged.” [Read more…]