World Bank calls for new gold standard
To the opinion of the World Bank chief Robert Zoellick, leading economies should consider adoption of a new global standard in order to stabilize currency markets.
The World Bank Chief has also suggested a 5-steps plan for stabilization and reforming of the global financial system. The plan includes making an agreement between China and the US which should become the basis for definition of the Yuan revaluation process. After that, the world's leading economies are recommended to elaborate an agreement which would exclude their central banks' currency intervention, informs Belteleradiocompany.
