Sunday, October 16, 2011

UN Chief urges European governments to repair finances; 'It is a deficit of trust'

“Lawmakers in Europe and elsewhere must do more than put their debt-wracked houses in order -- they must reassure citizens who fear diminished future prospects, and that means restoring people's trust in government, the U.N. secretary-general said Sunday night.

Ban Ki-moon's comments came during the opening session of the Inter-Parliamentary Union, which features representatives of parliaments from 157 nations. The global financial crisis was a major theme.

"It is a deficit of trust," Ban told the group's 125th assembly, held in the Swiss capital and attended by Swiss President Micheline Calmy-Rey. "People are losing trust in governments and institutions to do the right things."

Ban added that "the time for haggling over incremental steps is over" within the Group of 20 rich and developing nations, which he said now "must shoulder their full share of responsibility" -- for the crisis.”

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