More Information and Complete Text of Statements and Panelists
More information and complete text of statements and panelists' presentations could be found on the PGA website http://www.un.org/ga/president/63/interactive/gfc.shtml.
Concerned about the global repercussions of the financial crisis, on 30 October 2008, General Assembly President, Mr. Miguel d’Escoto ( Nicaragua ), invited a panel of experts to hold an interactive discussion with Member States on causes and possible solutions. The panel was composed of Professor Joseph Stiglitz ( United States ), Professor Prabhat Patnaik ( India ), Professor Sakiko Fukuda-Parr ( Japan ), Dr. Pedro Páez ( Ecuador ), Professor Calestous Juma ( Kenya ), and Dr. Francois Houtart ( Belgium ). The panelists made presentations that were followed by an interactive dialogue and a question and answer session. The panel discussion was moderated by Mr. Paul Oquist, Senior Adviser to the General Assembly President.
General Assembly President Miguel d’Escoto opened the event by indicating that the crisis had spread “like a plague” to all countries of the world and emphasized the need for a more secure and sustainable economic order. He announced his decision to establish a Task Force of Experts, headed by Professor Stiglitz, to undertake a comprehensive review of the international financial system and to suggest steps to be taken by Member States to secure a more just and stable economic order. Mr. d’Escoto indicated that the true dimension of the crisis was yet unknown, said that what was once described as “rational exuberance” is now seen as “unbridled greed” and added that States had lost sight of the responsibility to take care of their citizens. He stressed that the response must be multi-faceted, called for long-term measures that go beyond quick-fixes and said that it must take into account the poor. “We are not looking for poorly conceived institutions, we are not looking for the next bubble to burst leaving people feeling deceived and neglecting the needs of the poor,” he said and
Concerned about the global repercussions of the financial crisis, on 30 October 2008, General Assembly President, Mr. Miguel d’Escoto ( Nicaragua ), invited a panel of experts to hold an interactive discussion with Member States on causes and possible solutions. The panel was composed of Professor Joseph Stiglitz ( United States ), Professor Prabhat Patnaik ( India ), Professor Sakiko Fukuda-Parr ( Japan ), Dr. Pedro Páez ( Ecuador ), Professor Calestous Juma ( Kenya ), and Dr. Francois Houtart ( Belgium ). The panelists made presentations that were followed by an interactive dialogue and a question and answer session. The panel discussion was moderated by Mr. Paul Oquist, Senior Adviser to the General Assembly President.
General Assembly President Miguel d’Escoto opened the event by indicating that the crisis had spread “like a plague” to all countries of the world and emphasized the need for a more secure and sustainable economic order. He announced his decision to establish a Task Force of Experts, headed by Professor Stiglitz, to undertake a comprehensive review of the international financial system and to suggest steps to be taken by Member States to secure a more just and stable economic order. Mr. d’Escoto indicated that the true dimension of the crisis was yet unknown, said that what was once described as “rational exuberance” is now seen as “unbridled greed” and added that States had lost sight of the responsibility to take care of their citizens. He stressed that the response must be multi-faceted, called for long-term measures that go beyond quick-fixes and said that it must take into account the poor. “We are not looking for poorly conceived institutions, we are not looking for the next bubble to burst leaving people feeling deceived and neglecting the needs of the poor,” he said and