The Guardian UK publishes Nancy Birdsall's Op-ed proposing a "grand bargain" at the G20 summit to address the financial crisis.
From the article:
"Where are the international financial institutions when you need them? That's one question that G20 leaders will surely ask when they meet in Washington this weekend for talks on the global financial crisis. Alarmingly, the World Bank and the International Monetary Fund, created at the end of the second world war to prevent a repeat of the Great Depression, lack the resources and legitimacy to make a difference in the 21st century.
Fortunately, there is a straightforward solution: a Grand Bargain whereby the emerging market economies with substantial reserves infuse the so-called Bretton Woods institutions with cash in exchange for a much greater say in what these institutions do and how they do it."