By Sumeet Desai and Louise Egan
LONDON (Reuters) – G20 finance leaders on Saturday took aim at excessive bank pay and risk-taking at the root of the financial crisis and insisted trillions of dollars of emergency economic supports would be needed for some time.
Although the global economy looks brighter than when the Group of 20 finance ministers and central bankers met in April, their closing statement said they would not remove economic stimulus until the recovery was well entrenched.
By Glenn Somerville and Toni Vorobyova
LONDON (Reuters) – G20 finance leaders pledged on Saturday to keep economic life-support packages in place until a recovery is firmly secured, but reached no deal on putting limits on bankers’ pay.
Finance ministers and central bankers meeting in London agreed fiscal and monetary policy would stay “expansionary” until recovery from the worst financial crisis since World War II was certain, a draft of their joint statement seen by Reuters showed.
By Sumeet Desai and Anna Willard
LONDON, Sept 4 (Reuters) – World finance leaders shifted their focus from crisis fighting to banking reform on Friday as evidence mounted that the worst global recession in decades was finally drawing to a close.
U.S. Treasury Secretary Timothy Geithner called for tougher new bank capital requirements aimed at curbing some of the risky lending practices that have been blamed for the crisis, a position supported by another global banking powerhouse, Britain.
By Mike Dolan
LONDON, Aug 5 (Reuters) – Western governments seem set on preventing currency appreciation snuffing out nascent economic recoveries, helping reignite bets on a devaluation of major currencies against those of the emerging economic giants.
(The following story contains no dateline to protect the sources of the information)
July 7 (Reuters) – G8 leaders plus Brazil, India, China, Mexico and South Africa will agree at a summit on Thursday to conclude the Doha round of world trade talks successfully in 2010, according to a draft communique seen by Reuters. (more…)
