Bretton Woods Agreement [ Bretton Woods ]

Bretton Woods and Related Agreements Act [ An Act for carrying into effect the Agreements for an International Monetary Fund, an International Bank for Reconstruction and Development, an International Development Association and an International Finance Corporation | Bretton Woods Agreements Act ]

Bretton Woods Conference [ United Nations Monetary and Financial Conference | Bretton Woods ]

Bretton Woods Conference | United Nations monetary and financial conference

Bretton Woods Agreements

Bretton Woods Agreements

Bretton Woods Institutions [ BWI ]

wood product [ timber ]

wood industry [ wood processing | Forest industry(STW) | wood processing(UNBIS) ]

How is the Commission promoting reform of the Bretton Woods institutions, particularly with a view to enabling developing countries to keep their own resources within their borders and eradicate illicit financial flows, which are detrimental to their development? How does the Commission plan to ensure a greater voice and representation for low-income countries and a greater sensitivity to their needs within international financial institutions?

Mr Purvis, I agree, we do need to move in the direction of greater solidarity – that is important. This is, moreover, what we are proposing by basing the reform of the international financial system on the institutions created at Bretton Woods, including, in particular, the International Monetary Fund, a universal and politically legitimate institution that I am convinced will see its role strengthened in the years to come.

I agree that this is a global crisis and I therefore agree with the need for a Bretton Woods that some are calling Mark II and others are calling Mark III. Certainly, President Sarkozy’s reference to the current system reminds me very much of what General de Gaulle did before the first Bretton Woods failed, before the ‘rendition’ of Fort Knox when President Nixon decided to unpeg the dollar from gold.

6. Calls, ahead of the forthcoming meetings on the reform of the Bretton Woods institutions, for a strengthening of multilateral cooperation in order to stabilise capital flows, including more stringent disclosure requirements and strict regulation of institutional actors investing in food and energy; calls for the establishment of rules on transparent income reporting by and effective taxation of transnational corporations; calls for the strengthening of worldwide tax cooperation and the setting-up of an International Tax Organisation; calls for a multilateral facility to be set up within the IMF in order to help developing economies ...[+++] confronted with large capital outflows in the context of the global financial crisis, including a multilateral guarantee framework; calls for a reform of the governance of the Bretton Woods institutions;