Thursday, January 1, 2009

Angela Merkel: Crisis Change for Tough Financial Rules

Call for social responsibility

Turning to the global economy, Merkel said it had been plunged into crisis by financial excess carried out without social responsibility and with a loss of proportion by many bankers and managers.

"The world has lived above its means," she said, adding that "only once we recognize these causes can we extricate the world from this crisis. To do this we need a clear set of principles."

These had to entail greater social responsibility in business and financial dealings and recognize that the state is "the guardian of economic and social order." DEUTSCHE WELLE


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