European Parliament Member Urges the Need for a New Bretton Woods Monetary System

April 13, 2020 (EIRNS)—Member of the European Parliament Antonio Maria Rinaldi (Italy-Lega), a friend of the Schiller Institute, made the case for a New Bretton Woods monetary system in an interview published April 11 in the British daily Express, under the headline, “Coronavirus Action Plan: How NEW Bretton Woods Could Be Key To Restoring Economy” (emphasis in original).

“The current system is destined to fail,” Rinaldi told the Daily. “We need a New Bretton Woods and to define a new system of monetary management. The current one does not work. The first stress test, coronavirus, has proved it is completely ineffective.”

Express also interviewed former Labour minister Gisela Stuart, who, claims Marina Bet “echoed” Rinaldi’s analysis, saying, “A new Bretton Woods is similar to what Gordon Brown is proposing,” and she proceeds to denounce the “post-World War II institutions,” demonstrating that any “new Bretton Woods” by Gordon Brown—Tony Blair’s Chancellor of the Exchequer and later Prime Minister—can bear no resemblance to Franklin Roosevelt’s original or Lyndon LaRouche’s proposal.

Stuart, herself, was Blair’s representative to the EU at the time the Brussels bureaucracy was crafting the hideous “Constitution”—which ultimately was imposed as the Lisbon Treaty—which she opposed, and became the leading Labour Party member to back the “Brexit.” In 2004, she backed the reelection of George W. Bush against Democrat John Kerry, and is a signatory of the Henry Jackson Society principles. In 2015, she was named to the Queen’s Privy Council, giving her the lifetime title of “Right Honourable.”