'저는 그들의 땅을 지키기 위하여 싸웠던 인디안들의 이야기를 기억합니다. 백인들이 그들의 신성한 숲에 도로를 만들기 위하여 나무들을 잘랐습니다. 매일밤 인디안들이 나가서 백인들이 만든 그 길을 해체하면 그 다음 날 백인들이 와서 도로를 다시 짓곤 했습니다. 한동안 그 것이 반복되었습니다. 그러던 어느날, 숲에서 가장 큰 나무가 백인들이 일할 동안 그들 머리 위로 떨어져 말과 마차들을 파괴하고 그들 중 몇몇을 죽였습니다. 그러자 백인들은 떠났고 결코 다시 오지 않았습니다….' (브루스 개그논)





For any updates on the struggle against the Jeju naval base, please go to savejejunow.org and facebook no naval base on Jeju. The facebook provides latest updates.

Wednesday, July 14, 2010

Text Fwd: IMF and Northeast Asian banks clash over West’s financial regulations

'Finance Minister Yoon Jeung-hyun, left, speaks with Dominique Strauss-Kahn, managing director of the International Monetary Fund, during the South Korea-IMF Conference in Daejon, July 13.'

Hankyoreh
IMF and Northeast Asian banks clash over West’s financial regulations
:The IMF defended strong regulations for prevention, while Asian banks said the policy centers around Western countries

July 14, 2010


By Ahn Seon-hee

“It is almost like taking medicine for a sickness you don’t even have.”

“Sometimes you also have to take medicine for prevention.”

On Tuesday, the second day of an “Asia Conference” hosted by the International Monetary Fund and the Ministry of Strategy and Finance in Daejeon, opinions were divided between the IMF and participants over financial regulations that have been stepped up in the wake of the global financial crisis. The IMF actively defended the stronger regulations, but Asian countries, which had no major problems with their banks during the latest financial crisis, showed a tepid response. This represents a 180-degree turn from the Asian foreign exchange crisis over ten years ago, when the IMF “forced” Asian countries to relax their regulations.

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