Needed - a new Bretton Woods

While plenty of other liberal bloggers have picked up on the top half of a great John Judis article, what caught me was the bottom half.

Judis says that addressing the post-Bretton Woods system of currency manipulation, by Japan then China above all, may be a key part of getting out of the current global economic straits.

Well, don't expect Beijing to call such a conference, and it's doubtful Tokyo will.

I'll take Judis' ball a bit further down the road and argue that the European Union could flex some financial muscle by beating Obama to the punch on calling just such an international finance meeting.