'G20 should come up with definitive solutions for developing nations'

Hindu statesman Rajan Zed, in a statement in Nevada (USA) today, said that excessive human greed, which was a transgression of spiritual and moral law, had brought us into this economic crisis. If “G20” did not come up with some solid strategy for developing countries, their economies were likely to further collapse and might go into full-blown depression.

Zed, who is president of Universal Society of Hinduism, pointed out that world needed to make a coordinated effort to restructure, reconstruct and rebuild this flawed system. Rich countries should bail out the developing world and provide them more voice in international organizations. Come up with something concrete for developing nations and do it right now, Rajan Zed stressed.

Zed further said that illusion of money veiled our minds, resulting in unprecedented turmoil in the financial markets, bank failures, plunging of world stocks, etc. Saint Augustine (Letter 211) said, “It is better to need less than to have more.”

Rajan Zed said that all the religions condemned greed and he stressed the need to build a new world free from greed. “Greed is a form of pollution. Disappointment is certain if some act is done merely out of greed. Excessive greed blinds the mind. Do not be disillusioned by wants,” he added.

Zed quoted ancient Hindu scripture, Bhagavad-Gita, which says: there are three gates to self-destructive hell—greed, anger, and desire. Abandon these three. A person freed from these three gates of darkness, seeks what is best and attains life’s highest goal.

The G20, a group of the world's 20 most powerful nations who control about 85% of the world's economy, is meeting in London on April two to discuss plans to deal with the current financial crisis.