Germany,IMF,OECD,WTO,ILO,Worldbank: Crisis Needs Cooperation

The current global crisis requires global solutions, and greater cooperation is important to strengthen the international financial architecture, according to a joint statement by Germany's Chancellor Angela Merkel and the directors of the International Monetary Fund, the World Bank, the International Labor Organization, the Organization for Economic Cooperation and Development, and the World Trade Organization.

In their statement after a meeting in Berlin Thursday, the heads of these bodies and Merkel also said only "effective development of the social market economy can continue to guarantee economic growth."

They also called on all countries to "resist perfectionist tendencies."

Germany,IMF,OECD,WTO,ILO,Worldbank: Crisis Needs Cooperation