Monday, September 28, 2009 WASHINGTON: World Bank President Robert Zoellick on Sunday warned that the United States should not "take for granted" the US dollar's role as pre-eminent global reserve currency."The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency, Zoellick said, in excerpts of a speech to be delivered Monday."Looking forward, there will increasingly be other options to the dollar," Zoellick said in the address to be given at Washington's John's Hopkins University.His speech on Monday comes ahead of World Bank and International Monetary Fund annual meetings in Istanbul, Turkey early next month.Addressing the recent global economic crisis, he faulted the world's central banks for having "failed to address risks building in the new economy," although in the case of Washington's Federal Reserve Bank, he said, "it will be difficult to vest the independent and powerful technocrats at the Federal Reserve with more authority.""My reading of recent crisis management is that the Treasury Department needed greater authority to pull together a bevy of different regulators" to manage the finance crisis.He added that since Treasury is an executive department "Congress and the public can more directly oversee how it uses any added authority."
BEIRUT: Thousands of people converged Saturday on central Beirut to mark the fourth anniversary of the assassination of Lebanese former premier Rafiq Hariri.Waving Lebanese flags and carrying pictures of the slain leader, men, women and children gathered under sunny skies in Martyr's Square where members of the parliamentary majority were to address the crowd. The rally comes as final preparations are underway in The Hague for the launch of the international tribunal set up to bring Hariri's killers to justice. It also comes as the country prepares for legislative elections in June that will pit Western-backed political parties against a Hezbollah-led alliance backed by Syria and Iran.Hariri died in a massive car bombing on February 14, 2005 that also killed 22 others. The assassination was widely blamed on then Lebanese power-broker Syria, which has denied any involvement. The attack on the Beirut seafront was one of the worst acts of political violence to rock Lebanon since t...
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