Is time world’s bankers blow storm clouds away

Exactly a year ago, I came back from one of the bleakest and most remote places on this continent Ethiopia. One of my friends asked me how it was and I told him that people’s future looked bleak. To cut a long story short, we ended up talking about how easy for anyone to get a credit card and how we never have to go hungry in this country (UK) or any western countries for that matter. Ironically, he’d planned to get married and mortgage this year but all that was derailed due to, of course what else, the credit crunch storm.

There are so many people up-and-down this country who are worried about this storm and about their savings, their pensions, their homes and their jobs.

This week world’s central bankers are gathering in Washington DC for an International Monetary Fund IMF and World Bank summit to discuss about this financial black hole and the big question they face is whether to establish a global ´economic policeman´ to make sure all the banks behave sensibly but above all 2008´s crash is never to be repeated.

What’s more, if there is any hope of this conference to tear up the 64 year old system that is currently practiced in ever more complex banking world and start again, they mustn’t underestimate anymore the importance of countries such as China, India, Brazil, Saudi Arabia, South Africa and Russia and become the new foundation of the new economic world.