The Future

As the G7 countries meet this weekend to discuss the financial crisis, it's tempting for them to come up with an incremental solution to the world's financial problems.

However, I believe they need to think ahead and work back from what could be a completely different and innovative way of working the system.

How about one international bank and one international currency? And how about letting the system re-base so that all current debt is wiped?

OK the rich would get poorer and the poor would get richer, and jobs would be lost - but then so would time be freed... And maybe people would be freed from the shackles to enable them to do real good in the world?

I read about the troubles in Iceland this weekend. Essentially a country in meltdown without even the money to pay for imports of food. Are we going to bail them out? Or let them live on fish?

Have we now got Western countries which now threaten to become third world countries?

Where does the bailout end?

Shouldn't the entire world now take responsibility for the entire world?