Commonwealth Can Grapple With Global Financial Crises: Britain

Friday, 28 October 2011, 11:19 Hrs
Printer Print Email Email
Perth: The Commonwealth, which spans 54 countries with a trade network worth $3 billion, can tackle global challenges ranging from the financial crises to a changing climate, said British Foreign Secretary William Hague.

Hague made the remark at the Commonwealth People's Forum, a day when European leaders agreed to increase the eurozone's main bailout fund to one trillion euros as part of a package of measures to stave off Europe's spiralling debt crisis.

Hague is in Perth where the Commonwealth Heads of Government Meeting (CHOGM) was declared open by Queen Elizabeth II.

Hague said: "The problems and threats we face are increasingly global in nature, from financial crises to a changing climate and the Commonwealth can help us to grapple with these issues."

"In a world that is more and more reliant on networks the Commonwealth is the ultimate network; spanning 54 countries, six continents and oceans and two billion citizens.

"It is a vast trade network worth $3 billion a year and has a rich web and latticework of over 100 civil society organisations, many of whom are here," he added.
Source: IANS
SPOTLIGHT
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..