Merkel Says Crisis May Lead To UN Economic Council

Merkel told that the crisis had exposed the need for better international coordination.

German Chancellor Angela Merkel said on Friday the global financial crisis may lead to the formation of a U.N. Economic Council, like the U.N. Security Council, based on a global economic charter.

Merkel told the World Economic Forum of politicians and business executives that the crisis had exposed the need for better international coordination.

"All of these issues ... need to be enshrined in a charter for the global economic order," she said.

"This may even lead to a U.N. Economic Council, just as the Security Council was created after the Second World War."