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Camp David Summit Analysis

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Bush Meets With EU Leaders

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For Future Global Financial Summit Planning 

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President Bush met with French President Nicolas Sarkozy and EU Commission President Jose Manuel Barroso at Camp David, Maryland on Saturday, (10-18-8) to discuss how best to deal with the continuing global economic crisis. The leaders discussed the idea of holding a global summit, with Bush offering to host such a global summit in either Washington or New York. Sarkozy is also pushing for a G-8 Summit preparatory to such a global summit.

UN Secretary General Ban Ki-Moon proposed that the UN be the appropriate place for such a summit.

All parties involved believe that such a summit should be held sometime in November or early December at the latest. The Europeans want a systemic overhaul including a governing global body overseeing the entire economic system and a new global currency. Bush hedged his opinions on such an idea but noted that any new developments be in accord with preserving democratic capitalism.

Details themselves remain sketchy so there is little to analyze at this point in time but based upon public comments made in the past several days, it is clear that America is the only nation standing in the way of a 1-world, global currency concept. More than likely a global summit would over rule US objections. I suspect that it will take an ongoing effort to force the US into accepting a global currency idea. More than likely though, it will be up to the next president (Obama?) to decide how the US will respond to such an idea.

For now, we keep our eyes and ears open, monitoring news for developments on this push for global government.

For more details on the Camp David meeting, LINK HERE - and also LINK HERE.

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