Arab Today, arab today \financial diplomacy\ new channel for global deals
Last Updated : GMT 22:20:05
Arab Today, arab today
Arab Today, arab today

\'Financial diplomacy\' new channel for global deals

Arab Today, arab today

Arab Today, arab today \'Financial diplomacy\' new channel for global deals

Washington - AFP

An intense brand of \"financial diplomacy\" has taken root in global politics as economic crises worsen, with the United States a key player, the US Treasury\'s hard-nosed global envoy said Monday. Lael Brainard, US Treasury under secretary for international affairs, said a parallel world to the traditional political diplomacy has developed with equally intense negotiations and tough market-driven deadlines. \"Diplomacy is the stuff of legend and lore,\" she told the Women\'s Foreign Policy group in Washington. \"Not so much finance ministries. But three and a half years into my tenure, I have come to think that the term financial diplomacy, while obscure, is apt.\" \"Financial diplomacy is predominantly about shaping the domestic economic policies of other countries when they matter to us and to the world.\" Brainard, the Treasury\'s key international negotiator, has had a front seat in talks on global crises in Europe and elsewhere over the past three years, helping to advise deals that have broad impact around the world. At 49, the mother of three has spent much of the past year on trips to Europe, where she presses the US experience in its 2008 crisis as an example of what Europe can do. She said Monday that Europe\'s leaders are now close to taking major decisions that can hold the eurozone together and cool the crisis. \"While classic diplomacy moves through the synapses of foreign ministries, financial diplomacy navigates through finance ministries and central banks.\" \"We work on financial and economic diplomacy because some economic decisions made in one country have an outsized impact on jobs and growth here in the United States and around the world. As transmission channels proliferate, policies designed for domestic circumstances can matter as much or more to other countries as any international treaty.\" Financial diplomacy isn\'t exactly new, said Brainard: negotiations between economic and market specialists were behind the formation of the International Monetary Fund and the World Bank in 1944, albeit at a leisurely pace over months. Now the pace is dictated by the how fast news hits markets -- \"under the glare of a global 24/7 business news cycle,\" as Brainard put it. In May 2010, officials from the eurozone and the G-7 leading countries had only 50 hours -- between the close of New York markets on Friday and the market opening in New Zealand on Monday -- to create Europe\'s crucial rescue fund, the European Financial Stability Facility, she said. She said Washington \"plays an outsized role in this system,\" because the dollar is the world\'s key reserve currency and the United States has the deepest financial markets. \"When we engage in financial diplomacy, our power is not primarily from our purse but from our ideas, our intensity, and our initiative. \"We succeed when we bring smart ideas to the table; when we take initiative; when we insist on policy solutions that will make a difference in people\'s lives.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today \financial diplomacy\ new channel for global deals Arab Today, arab today \financial diplomacy\ new channel for global deals

 



Arab Today, arab today
Arab Today, arab today Accessories designer reveals her new collection

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today Number of unwedded girls amounts to 2.5m

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday