Measures in Favor of Banks Will Not Solve World Crisis

HAVANA, Cuba, March 3 (acn) Experts from several nations participating in the 11th International Meeting of Economists on Development Problems, underway in Havana, said on Monday that the current world financial and economic crisis can not be solved through initiatives that only favor banks.

This was one of the main topics for discussion during the first day of the event, which is being attended by more than 1000 delegates from 47 nations.

The theme was analyzed in a panel called "From the Financial to the Global Economic Crisis: Impacts and Lessons" with the participation of Argentinean Claudio Katz, American Jan Kregel and Belgian Christian Ghymers.

"We cannot continue trying to rescue institutions that went bankrupt, because that is typical of capitalism. The real regulations have to be made by the people," Katz said.

He added that the increase in military spending and wars are other expressions of the current global recession.

For his part, Ghymers noted that today's collapse, that is affecting the whole capitalist system, is a result of neo-liberal globalization and the accumulation of debts.

Meanwhile, Egyptian Samir Amin, President of the Third World Forum, said that the government of Barack Obama and his economic team in the United States are unable to solve the current world crisis.

The 11th International Meeting of Economists on Development Problems was inaugurated on Monday in Havana's Conventions Palace in the presence of Leonel Fernandez, President of the Dominican Republic and Jose Ramon Machado Ventura, the Cuban First Vice President.

(Crisis global no se resuelve con medidas a favor de la banca )