Russia Wants Faster BRICS Integration To Preempt Blocking By Western Powers

By -

BY FINTAN DUNNE - MONDAY, MARCH 18, 2013 

Ahead of a crucial meeting of the BRICS nations in Durban next week-- a Russian government report proposes speeding up the integration of the BRICS economies and bypassing existing international financial systems, in order to preempt Western powers' attempts to hamper BRICS development. 

The report will inform Russia’s national strategy and could lead the BRICS to greatly expand their existing proposals for a BRICS development bank. 

One recommendation of the report is a: "...partnership agreement between the [BRIC] nations’ stock exchanges and creation of a “virtual pool of reserves” 

That's effectively a proposal to set up a parallel BRICS organization to the World Bank, IMF and other western-dominated financial regulatory structures. 

The Russian expert report also proposes to "...create a bank for international settlements to assure safety to the economies of BRICS member countries...." 

A plan to create a new bank for international settlements? But there already is a bank for international settlements: the BIS. 

It remains to be seen if the BRICS will adopt the proposed Russian initiatives, but to underpin the vital nature of these issues, new Chinese President Xi Jinping will visit Moscow this week to meet with Pres. Vladimir Putin, 
ahead of the BRICS summit.

Comments

Post a Comment

Popular posts from this blog

Advantage Rafsanjani and Mousavi as Opposition Seeks Checkmate

By -
Image
by Fintan Dunne, 29th June, 2009 Influential Iranian former-president, Ayotalloh Rafsanjani has deferred for tactical reasons an emergency meeting of the Assembly of Experts -despite having now secured a majority in favor of convening the powerful clerical body, according to the Iranian political analyst Professor Muhammad Sahimi. In a telephone interview this weekend, Prof. Sahimi said Rafsanjani and Iran's opposition leaders are biding their time to allow social pressures on Iran's government to intensify. Their aims are to split the government and to detach some commanders of the Revolutionary Guard from supporting the hardline government stance on the official election outcome. "And if that happens," said Professor Sahimi, "then stronger actions such as an emegncy meeting of the Assembly of Experts to investigate the performance of the Supreme Leader can be done." The government also now seems to be avoiding a definitive showdown. The deadline to inves
Read more

Mandela's Conscience Lives: In Thabo Mbeki

By -
Image
Mandela's Conscience Lives: In Thabo Mbeki by Fintan Dunne, 10th December 2013. [ Thabo Mbeki 's dissident Aids stance is supported by] "febrile  New York journalist Celia Farber; former marketing executive John  Lauritsen; Irishman and arch conspiracy theorist  Fintan Dunne .."    " The Triumph of Unreason ," Mail & Guardian, 19 April 2002.   W hen former South African president, Thabo Mbeki arrived to a hero's welcome at  the FNB stadium, in Soweto today,  for  Nelson Mandela's celebration memorial service - he was, in effect, bestowed by the crowd with the mantle of Mandela's Conscience. They stood to chant "Mbeki, Mbeki," with some making bicycling movements with their arms to signal their desire to 'rotate' away from current ANC leader, Jacob Zuma and his deeply corrupted South African presidency. Even the notoriously anti-Mbeki,  Mail and Guardian's associate editor @phillipdewet had to admit:  &
Read more

Audio Interview: Prof. Scott Lucas

By -
Image
Blood or Politics: What Next for Iran? Despite the official certification of Mahmoud Ahmadinejad as the victor in Irans presidential election, and despite the relative calm on the streets of Tehran, the country is still seething. Rumours abound of moves by different factions, and the opposition is trying to consolidate a clerical and political platform to take a stand against the government. The main opposition leader, Mir-Hossein Mousavi has now called on his Facebook page for a general strike. Protesters who took to the streets to shed blood for democratic principles are still afire with a zeal for reform. So what next for Iran? Will political pragmatism win out over factionalism? Or will arrests, detentions and street clashes dominate the weeks ahead. Professor Scott Lucas of Birmingham University discusses the likely directions for Iran with Fintan Dunne. Interview Guest: Professor Scott Lucas Scott Lucas is Professor of American Studies at the University of Birmingham, UK. He
Read more