Identifier
Created
Classification
Origin
08STATE121432
2008-11-15 01:12:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Secretary of State
Cable title:  

INSTRUCTIONS - USUN VENEZUELAN DRAFT RESOLUTION

Tags:  EFIN ECON UN VZ 
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VZCZCXYZ0007
PP RUEHWEB

DE RUEHC #1432 3200123
ZNR UUUUU ZZH
P 150112Z NOV 08
FM SECSTATE WASHDC
TO RUCNDT/USMISSION USUN NEW YORK PRIORITY 0000
INFO RUEATRS/TREASURY DEPT WASHINGTON DC PRIORITY 0000
RHEHNSC/NSC WASHINGTON DC PRIORITY 0000
RUEHCV/AMEMBASSY CARACAS 0000
UNCLAS STATE 121432 

SENSITIVE
SIPDIS
NSC FOR JBRAUSE AND PBROWN
TREASURY FOR JHURLEY

E.O. 12958: N/A
TAGS: EFIN ECON UN VZ
SUBJECT: INSTRUCTIONS - USUN VENEZUELAN DRAFT RESOLUTION
SEEKING A UN FINANCIAL CRISIS SUMMIT DURING THE 63RD
GENERAL ASSEMBLY

REF: USUN NEW YORK 001040

UNCLAS STATE 121432

SENSITIVE
SIPDIS
NSC FOR JBRAUSE AND PBROWN
TREASURY FOR JHURLEY

E.O. 12958: N/A
TAGS: EFIN ECON UN VZ
SUBJECT: INSTRUCTIONS - USUN VENEZUELAN DRAFT RESOLUTION
SEEKING A UN FINANCIAL CRISIS SUMMIT DURING THE 63RD
GENERAL ASSEMBLY

REF: USUN NEW YORK 001040


1. (SBU) USDEL is instructed to work with like-minded
delegations to seek to postpone action on this resolution and
if unsuccessful, and it is presented for consideration in
plenary, to call for a vote and to vote no.


2. (U) Background: The Venezuelan government has proposed
the UN General Assembly (GA) pass a resolution entitled
"Follow up to the outcome of the Millennium Summit" (reftel),
which inter alia, convenes a "United Nations Summit during
the sixty third session of the General Assembly in order to
examine the underlying causes of the financial crisis,
undertake a comprehensive review of the international
financial institutions, particularly the Bretton Woods
institutions, with a view to articulating a policy framework
for transforming the international financial system into an
equitable, inclusive, democratic, and development oriented
system that reflects the interest of all member states." It
also invites ECOSOC to convene a high level meeting to
examine the current financial crisis.


3. (U) Iran, Syria, Belarus, Cuba and a variety of other
Latin American countries, including Brazil, are co-sponsoring
this resolution. While it initially appeared that the
Venezuelan government intended to introduce the resolution
and call for consensus acceptance on November 17 without
prior informal discussions, an informal session has been
scheduled for November 14.


4. (SBU) USG Position: The USG finds Venezuela,s proposal
poorly timed and unhelpful. There are numerous efforts
underway, including the Summit on Financial Markets and the
World Economy in Washington, to address the financial crisis.
Rather than calling for a UN summit, the United Nations and
its agencies should be examining ways, within their existing
mandates, to help vulnerable countries address problems
related to the food, energy and financial crises.


5. (U) Text of Draft Resolution

The General Assembly,

Concerned by the deep and far reaching impact and
multidimensional consequences of the current global financial
crisis, its effects on the global economy and the financial
system, as well as its impact on the efforts to achieve the
internationally agreed development goals, including the

Millennium Development goals.

Underlining the important role and authority of the United
Nations on global matters of concern to the international
community as set out in the United Nations Charter,

The General Assembly,


1. Decides to convene a United Nations Summit during the
sixty third session of the General Assembly in order to
undertake a comprehensive review of the international
financial system, including the functioning of the Bretton
Woods institutions, with a view to articulating a policy
framework for transforming the international financial system
into an equitable, inclusive, democratic, and development
oriented system that reflects the interests of all member
States;


2. Request the President of the General Assembly, in close
consultation with member States, to finalize the
organizational arrangements for the United Nations Summit;


3. Invites the ECOSOC to convene a high level meeting to
examine the current financial crisis and present its
recommendations to the General Assembly, as part of the
preparatory process for the United Nations Summit;


4. Requests the Secretary General to take all appropriate
measures to implement the present resolution.

End text of draft resolution.


6. (SBU) USUN should draw upon the following points in
informal discussions and in an EOV:

-- The United States appreciates this opportunity to share
its concerns regarding the proposal to hold a global summit
on the current international financial crisis.

-- While we support the idea of convening summits as a way to
address pressing global issues, this mechanism, by its very
nature, should be used sparingly and when it will be most
effective. It should only be undertaken after careful
consideration and discussion.

-- In this case we find the proposal unhelpful, particularly
as the fundamental issues are already being addressed on a
multilateral basis by bodies with relevant expertise that are
better able to take necessary action with both due haste and
deliberation.

-- The United Nations and its agencies have an important role
to play in the current environment by showing leadership in
working within their existing mandates to assist member
states in coping with the ongoing development challenges,
including those that might be exacerbated by a global
economic slowdown.

-- In the coming weeks and months, the international response
to the financial crisis and our dialogue on how to address
its impact will continue to take shape. Even as it goes
through a political transition, the United States will
continue to engage in our ongoing discussion of the
appropriate mechanisms the international community should
employ to support a strong global economic system.
RICE