Mr. Speaker, I offer an alternative version of the interpretation being put on the G-7 summit by the Prime Minister.
The G-7 summit did not deal in any significant way with a lot of the serious problems facing the international economy. The G-7 summit did not deal with growing polarization between rich and poor within industrialized countries and between industrialized countries and the third world. It did not deal with the international debt problem of third worlds.
Finally and most significantly, because this is what the Prime Minister likes to talk about, it did not deal with the whole question of money speculators.
All it did was provide that the IMF might have more money in the end to bail out economies damaged by speculators. When we bail out those economies in the current context we bail out the speculators themselves.
What we have increased here is the global welfare state for money speculators rather than dealing with the root of the problem which is curbing speculation-