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    • News

    Yunus: Sweeping Global Financial Reform Needed

    By Tiziana Cauli // 23 October 2009

    The global financial downturn serves as an opportunity to create a better and more effective global economy, according to

    , Nobel Peace Price laureate and

    managing director.

    Speaking at the European Development Days in Stockholm Thursday, Yunus called on world leaders to re-shape the global financial system in the wake of its collapse in the past two years.

    "This is a good chance to redesign the financial system and not just put a Band Aid on it," Yunus told participants at Europe's largest annual development event.

    According to Yunus, a new, more effective economic system should also be more inclusive.

    "Two-thirds of the world population is left out," he said. "That is not going to work. Why not be inclusive?"

      Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

      About the author

      • Tiziana Cauli

        Tiziana Cauli

        Tiziana has contributed to Devex News since mid-2008, focusing mainly on Africa as well as the European donor landscape, especially those in Brussels, Rome and Barcelona. Tiziana has worked as a journalist for Reuters and the Associated Press in Johannesburg and at Reuters in Milan and Paris. She is fluent in Italian, English, French and Spanish.

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