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IMF's Rising Quantum of Nation State Failures

Domino Effects and Unintended Consequences

London, UK - 27th October 2008, 10:10 GMT

Dear ATCA Colleagues

[Please note that the views presented by individual contributors are not necessarily representative of the views of ATCA, which is neutral. ATCA conducts collective Socratic dialogue on global opportunities and threats.]

What do Iceland, Ukraine, Hungary, Belarus and Pakistan have in common? These countries are on the brink of financial collapse and the International Monetary Fund (IMF) is in the process of bailing them out as the lender of last resort to cash-strapped countries. The Washington-based institution is one of the cornerstones of the Bretton Woods system that has governed global finance since World War II. At the end of August 2008, the IMF had USD 341 billion available from the combined quota payments of its member countries to offer partially as loans to countries facing financial difficulties. According to distinguished ATCA members, this may not be enough and the IMF may not be able to solve the massive motorway pile-up of nation-state-failures as more than 35 nations end up in the queue over the coming year. Based on ATCA estimates, even ten times the IMF reserves, ie, USD 3 to 4 trillion may also not be enough worldwide to provide emergency financial relief over the coming few years, given the ATCA analyses "The Invisible One Quadrillion Dollar Equation," "Why are Markets still falling? The Tsunami caused by Derivatives and Deleveraging", and "Bretton Woods II -- The New Global Economic Architecture for the 21st Century."

[CONTINUES] [ATCA Membership]

[ENDS]

We welcome your thoughts, observations and views. Thank you.

Best wishes


ATCA: The Asymmetric Threats Contingency Alliance is a philanthropic expert initiative founded in 2001 to resolve complex global challenges through collective Socratic dialogue and joint executive action to build a wisdom based global economy. Adhering to the doctrine of non-violence, ATCA addresses asymmetric threats and social opportunities arising from climate chaos and the environment; radical poverty and microfinance; geo-politics and energy; organised crime & extremism; advanced technologies -- bio, info, nano, robo & AI; demographic skews and resource shortages; pandemics; financial systems and systemic risk; as well as transhumanism and ethics. Present membership of ATCA is by invitation only and has over 5,000 distinguished members from over 120 countries: including 1,000 Parliamentarians; 1,500 Chairmen and CEOs of corporations; 1,000 Heads of NGOs; 750 Directors at Academic Centres of Excellence; 500 Inventors and Original thinkers; as well as 250 Editors-in-Chief of major media.

The Philanthropia, founded in 2005, brings together over 1,000 leading individual and private philanthropists, family offices, foundations, private banks, non-governmental organisations and specialist advisors to address complex global challenges such as countering climate chaos, reducing radical poverty and developing global leadership for the younger generation through the appliance of science and technology, leveraging acumen and finance, as well as encouraging collaboration with a strong commitment to ethics. Philanthropia emphasises multi-faith spiritual values: introspection, healthy living and ecology. Philanthropia Targets: Countering climate chaos and carbon neutrality; Eliminating radical poverty -- through micro-credit schemes, empowerment of women and more responsible capitalism; Leadership for the Younger Generation; and Corporate and social responsibility.



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