The international community has not wizened up financially even as it claims that the worst of the crisis is over, Italian politician Emma Bonino argues in an opinion piece in the Financial Times. Bonino writes that past and ongoing international meetings on the crisis have only managed to pass decision-making powers to a new body, but have left the causes and symptoms of the crisis unchecked. Bonino further argues that there is still no "coherent global response to the crisis," citing the differing views of European countries regarding bonus regulations and banking restrictions as one of the top reasons.
G-20 leaders should be closely watched to see if they will implement concrete measures to save the global economy, Bonino suggests while saying that "unless consumer confidence, investments and international trade pick up on a global scale, it will take months, perhaps years, to sort out the current economic predicament."
