Financial Regulatory Forum

ANALYSIS-G20 to endorse EU crisis strategy, no new action

By Brian Love

PARIS, May 28 (Reuters) – Finance chiefs of the world’s leading economies, meeting next week, are likely to deliver a strong endorsement of Europe’s efforts to resolve its debt crisis but announce no fresh policies to help it do so.

After several months in which Washington, Beijing and other governments pressed Europe to act more decisively in tackling the crisis, global policy makers now appear to feel a strategy with a reasonable chance of success is in place, and that it should be given time to work.

So finance ministers and central bank chiefs of the Group of Twenty nations, meeting in South Korea on June 4 and 5, are likely to praise Europe and present a united front on the crisis, hoping to reassure financial markets.

U.S. Treasury Secretary Timothy Geithner said in London on Wednesday that European governments had put together a “very strong programme of reforms on the fiscal side and a very strong commitment on the financial side”, adding that implementing the plans was now key.

An official of a G20 government involved in preparing for the meeting said he did not think Europe or the G20 would announce any further policies for now, since steps to handle the crisis had just been revealed and were being carried out.

G20 ministers to keep stimulus, seek ways to coordinate economies

Britain's Chancellor of the Exchequer Alistair Darling speaks at a Thomson Reuters newsmaker event in London October 21, 2009. REUTERS/Andrew Winning (BRITAIN BUSINESS POLITICS)   By Sumeet Desai
ST ANDREWS, Scotland, Nov 6 (Reuters) – The Group of 20 leading nations will agree this weekend it is too early to pull the plug on emergency support for the global economy and launch a new system of checks to help rebalance world growth and prevent future crises.


G20 to talk currencies, ‘moral hazard’ – Canada

TORONTO, Nov 2 (Reuters) – The G20 finance ministers and central bankers meeting this weekend will discuss foreign exchange rates and the perils of designating some banks as “too big to fail,” Canadian Finance Minister Jim Flaherty said on Monday.


France, China worry about U.S. dollar weakness

By Gertrude Chavez-Dreyfuss and Emmanuel Jarry
NEW YORK/PARIS, Oct 20 (Reuters) – France said on Tuesday the euro at $1.50 was a disaster for Europe and joined China in worrying that a weak U.S. dollar would stoke inflation.


G20 toughens bank capital standards-source

Lighting engineers set up a platform ahead of the G20 Finance Ministers meeting in London September 4, 2009. The G20 will promise this weekend to keep economic support packages in place until recovery is certain and seek to reassure financial markets they have credible plans to withdraw the stimulus when appropriate.     REUTERS/Kevin Coombs     (BRITAIN BUSINESS POLITICS)   LONDON, Sept 5 (Reuters) – Group of 20 finance chiefs agreed on Saturday to back a U.S. plan for banks to hold more and higher quality capital, resolving differences over which set of rules to pursue going forward, a G20 source told Reuters.  (more…)

New ruling party focuses on Japan economic woes

Democratic Party leader Yukio Hatoyama walks past his poster after speaking to reporters at the party headquarters in Tokyo September 1, 2009. Japan's Democratic Party, fresh from a landslide election victory, met the central bank governor and senior finance ministry bureaucrats on Tuesday as the transition to a new government stepped up a gear.   REUTERS/Toru Hanai (JAPAN POLITICS ELECTIONS) By Yoko Nishikawa and Hideyuki Sano
TOKYO, Sept 1 (Reuters) – Japan’s Democratic Party, fresh from a landslide election victory, discussed the country’s struggling economy with the central bank and finance ministry on Tuesday as the transition to a new government stepped up a gear.