Merkel has proposed a general constitution of financial markets

The German government insists on the adoption of a universal constitution of financial markets, which would regulate their activities to avoid future financial and economic crisis. This was said German Chancellor Angela Merkel, speaking in parliament with a government statement in connection with the forthcoming summit in Italy Big Eight July 8-10.

We will ensure that a new constitution in financial markets, so that this crisis never happen again, - said Merkel.

According to her, now the banks there is the first defensive response to the planned measures to regulate financial markets, and now it is to translate these measures into practice.

She also called for the development of strategies for economic development in post-crisis period.

It is important, first, to quickly get out of the crisis, and secondly, once again turn to the ongoingprocess of economic development, - said Merkel.

She was convinced that at the international level should be reached on how the aftermath of the crisis will be to ensure economic growth. She reiterated the need for joint action aimed at countering the effects of the crisis.

knit world, and challenges to which we stand, no longer can be addressed industrialized nations alone, - she said.

Merkel advocated for adoption in the world economy, the principles of social market economy.

This should happen on an international scale, and that no one can escape, - said the Federal Chancellor. She also believes that in the future, the important decisions that define the main trends in international development should be taken not in the Group of Eight, and votes in twenty major States.

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