Call for big changes to global financial system

ARGENTINA - A group of former finance ministers from emerging market countries will today propose fundamental changes to the global financial system, including an international bankruptcy procedure for government borrowers.

Their report reflects a feeling that the current system places emerging markets at the mercy of fickle capital flows, and that - as in Argentina - there is no agreed procedure to get countries out of trouble.

Domingo Cavallo, the Argentine finance minister struggling to resc