Merkel urges reforms to IMF, World Bank to restore confidence in financial system

BERLIN (Reuters) – Global organizations like the International Monetary Fund and the World Bank must be reformed to restore confidence in the global financial system, German Chancellor Angela Merkel said on Wednesday, defending multilateralism as a ‘win-win’ guarantor.

“For a long time emerging countries like China and India influenced the world economy in a very strong way and when an existing system takes too long to react the consequences are that others (countries) make themselves noticeable through new institutions,” Merkel said in a speech in Davos.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.