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Views on the news - 25/6/09

UN call to reform IMF and WB will fall on deaf ears "The world institutions created generations ago must be made more accountable, more representative and more effective," UN Secretary General Ban said at the opening of a three-day meeting of the U.N. General Assembly on the global financial crisis and its impact on the developing world. "I regret that financial institutional reform has divided (U.N.) member states," he said. The question of reforming the IMF, World Bank and other international financial bodies was one of the issues that the 126 nations participating in this week's financial crisis had struggled to agree on during months of negotiations on a set of proposals for reforming the global financial system. A 15-page draft obtained by Reuters, said nations “recognize that it is imperative to undertake, as a matter of priority, a comprehensive and fast tracked reform of the IMF ... to increase its credibility and accountability, its legitimacy and effec

The Crisis in Iran

1.What has caused the current crisis leading to huge demonstrations on the streets of Tehran? The crisis has been caused by the outcome of the elections which took place on June 12th 2009. The results of the elections were announced on June 13th 2009 by the Interior Minister Sadiq Mahsouli. He confirmed that Mahmoud Ahmadinejad had been re-elected to a second term after gaining 62% of the votes. Leading reformist candidate Mir Hossein Mousavi gained a mere 33%. Mahsouli added that the turnout approached 85%, with a little more than 39 million of 46.2 million eligible voters casting their ballots. Iran's Supreme Leader Ayatollah Ali Khamenei immediately issued a statement in which he praised the turnout and called on the public and the challengers to support the winner. The European Union and several western countries expressed concern over alleged irregularities during the vote, and some analysts and journalists from the United States and European based media voiced doubts about th