Discussions in Paris are expected to focus on the global economy and G-20 framework for growth, the reform of the international monetary system, commodities, financial regulation and certain other issues such as development.

This crisis demands that we have genuine economic governance, rules restricting social dumping in developing countries, financial regulation, and a reform of the international monetary system.

They have taken guarantees, they have debts, they have equity stakes, and that is why I wonder whether the European Union ought not to propose, as part of the new global regulation of capitalism, the creation of a global public state rating agency, an independent body that would come under the International Monetary Fund and would enable citizens to have an idea, via these ratings, of the quality of the finance of states, which, I repeat, have become key financial players.

3. The right of the Central Bank of Chile to maintain or adopt measures in conformity with the Constitutional Organic Law of the Central Bank of Chile (Ley Orgánica Constitucional del Banco Central de Chile, Ley 18.840 (hereinafter, "Law 18.840") or other legislation, in order to ensure currency stability and the normal operation of domestic and foreign payments. For this purpose, the Central Bank of Chile is empowered to regulate the supply of money and credit in circulation and international credit and foreign exchange operations. The Central Bank of Chile is empowered as well to issue regulations governing monetary, ...[+++] credit, financial, and foreign exchange matters.

3. The right of the Central Bank of Chile to maintain or adopt measures in conformity with the Constitutional Organic Law of the Central Bank of Chile (Ley Orgánica Constitucional del Banco Central de Chile, Ley 18.840 (hereinafter, "Law 18.840") or other legislation, in order to ensure currency stability and the normal operation of domestic and foreign payments. For this purpose, the Central Bank of Chile is empowered to regulate the supply of money and credit in circulation and international credit and foreign exchange operations. The Central Bank of Chile is empowered as well to issue regulations governing monetary, ...[+++] credit, financial, and foreign exchange matters.

What was linked to Bretton Woods was an international regulatory system for capital demand and supply and two very key institutions, the World Bank for long term capital assistance mostly to developing nations suffering from chronic capital shortages, and the International Monetary Fund, the IMF, for regulating money supplies to alleviate the crises in international payments.