Davos Calls on Governments to Coordinate Reform of Financial Industry

(28 Jan 10 - RV) Business leaders at the World Economic Forum in Davos, Switzerland, warned Western governments today that an uncoordinated, crackdown on the financial industry could kill a fragile recovery from global recession.
They have appealed to governments, including the Obama administration, to conclude stalled trade liberalisation talks this year and boost a world economic recovery.


But trade negotiators were sceptical of recovery, citing the impact of unemployment in developed countries, which they say will only be felt later this year.


In his State of the Union address to Congress yesterday President Obama pledged tough new regulations on Wall Street but said he was "not interested in punishing banks".


He also vowed a new stimulus package to create more jobs, pledged to freeze public spending and said he would not to abandon his reform of the healthcare system.


We spoke to Katherine Jean Lopez, editor at large of National Review Online about reaction to President Obama’s maiden State of the Union Address