Australian PM Calls For Financial Market Reforms To Prevent Future Crisis

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Thursday, Australian Prime Minister Kevin Rudd called for the establishment of a financial market reform program to prevent any future crisis and international agreement on when and how to withdraw emergency economic measures.

"We must articulate a new framework for sustainable future economic growth," Rudd said at the United Nations General Assembly in New York.

"A framework that doesn't simply return to business as usual based on unsustainable financial imbalances, excessive consumption fueled by consumer and corporate debt and irresponsible risk-taking in systemically significant financial institutions."

Moreover, he said the global financial crisis was not yet over and a recovery is far from certain and many twists and turns lie ahead.

Thursday, Australian Prime Minister Kevin Rudd called for the establishment of a financial market reform program to prevent any future crisis and international agreement on when and how to withdraw emergency economic measures. (Market News Provided by RTTNews)