十国集团金融市场和世界经济峰会的宣言.docVIP

个人收集整理 勿做商业用途 个人收集整理 勿做商业用途 PAGE / NUMPAGES 个人收集整理 勿做商业用途 Declaration of the Summit on Financial Markets and the World Economy 1.? We, the Leaders of the Group of Twenty, held an initial meeting in Washington on November 15, 2008, amid serious challenges to the world economy and financial markets.? We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world’s financial systems.个人收集整理 勿做商业用途 2.? Over the past months our countries have taken urgent and exceptional measures to support the global economy and stabilize financial markets.? These efforts must continue.? At the same time, we must lay the foundation for reform to help to ensure that a global crisis, such as this one, does not happen again.? Our work will be guided by a shared belief that market principles, open trade and investment regimes, and effectively regulated financial markets foster the dynamism, innovation, and entrepreneurship that are essential for economic growth, employment, and poverty reduction. 个人收集整理 勿做商业用途 Root Causes of the Current Crisis 3.? During a period of strong global growth, growing capital flows, and prolonged stability earlier this decade, market participants sought higher yields without an adequate appreciation of the risks and failed to exercise proper due diligence. ?At the same time, weak underwriting standards, unsound risk management practices, increasingly complex and opaque financial products, and consequent excessive leverage combined to create vulnerabilities in the system. ?Policy-makers, regulators and supervisors, in some advanced countries, did not adequately appreciate and address the risks building up in financial markets, keep pace with financial innovation, or take into account the systemic ramifications分歧of domestic regulatory actions. 个人收集整理 勿做商业用途 4. ?Major underlying factors to the current situation were, among others, inconsistent and insufficiently coordinated macroeconomic policies, ina