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Environment: Twisted As Unnaturally as the Banks

Grameen Bank director and Nobel Peace Prize winner Muhammad Yunus speaks during the inauguration of the IUCN World Conservation Congress in Barcelona October 5, 2008. (REUTERS/Albert Gea - Spain)

BARCELONA - The financial meltdown in most of the industrialised world presents an opportunity for a new economic model that would end short-sighted search for high returns, according to leading economists attending the IUCN World Conservation Congress here.

"Right now, the most conservative leaders in the industrialised world, such as George W. Bush of the U.S. and Angela Merkel of Germany are allocating public money to save the banks from bankruptcy," Alejandro Nadal, a Mexican economist attending the congress told IPS.

Posted in Economy/Trade, Bailout