Candidate for
Member, Democratic Party County Central Committee; County of Alameda; Assembly District 18

I heartily endorse the forward thinking efforts of the Senate and Chamber of Deputies in the Italian Parliament in thier effort in dealing with the worsening economic crisis.
The article Italian Senators Again Call
for New Bretton Woods System

More than 100 members of both chambers of Parliament have signed the resolution, which was motivated by the outbreak of the Argentine financial crisis. After blaming the crisis on the IMF policy, it lists a six-point reconstruction program for Argentina, which "various political, economic, social, and religious forces in Argentina have put at the center of discussion:

"1. A peso-dollar decoupling, without devaluation or other forms of dollarization; de facto a new currency without obligations towards the current system;

"2. Measures of exchange and capital control, like those that in the 1950s were able to protect currencies;

"3. Creation of a 'national bank' to issue new, long-term and low-interest-rate credits to expand productive investments in industry and agriculture, particularly in middle-sized enterprises;

"4. Freeze of all foreign debts and the opening of an investigation on the legitimacy of the debt still owed;

"5. Creation of a defense coordination mechanism with other nations on the continent, aiming also to create a Latin American common market; and

"6. Reintroduction of the inviolable principle of national sovereignty against any form of interference from globalizing supranational structures."