By Giuseppe Fonte and Caren Bohan
PITTSBURGH, Sept 24 (Reuters) – The United States said on Thursday there was broad support for its vision to build a more stable global economy and crack down on banks’ risky behavior, although G20 countries were still hashing out the details.
US sees broad G20 support for its economic vision
Banker pay curbs, clawbacks sought at G20 summit
By Kevin Drawbaugh and David Ljunggren
PITTSBURGH, Sept 24 (Reuters) – World leaders at the G20 meeting on Thursday closed in on a statement calling for new restraints on banker pay, an issue that became inflammatory during the global financial crisis, but would not endorse specific monetary caps — a deal-breaker for the United States. (more…)
Merkel to G20: regulation before rebalancing
By Madeline Chambers and Emily Kaiser
BERLIN/PITTSBURGH, Sept 24 (Reuters) – German Chancellor Angela Merkel warned on Thursday a U.S. drive to rebalance the global economy risked distracting the Group of 20 from a more urgent need for market regulation at their Pittsburgh summit.
France worried about euro, wants G20 discussion
By Anna Willard
PARIS, Sept 23 (Reuters) – France is concerned about the level of the euro against other currencies and hopes the Pittsburgh G20 will set a timeframe for a future discussion on exchange rates, a French government official said on Wednesday.
EU unveils blueprint to overhaul policing of banks
By John O’Donnell
BRUSSELS, Sept 23 (Reuters) – The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, a central plank in new rules designed to prevent a repeat of the global economic crisis. It plans to create a banking super-watchdog, with power to overrule countries such as Britain, and a pan-European supervisor that would warn of early signs of crisis.
City of London, U.S. lobbies are fighting market regulation – Germany
BERLIN, Sept 23 (Reuters) – The City of London is doing its best to block the introduction of stricter financial market regulations, but tougher rules will come, German Finance Minister Peer Steinbrueck said a day before a Group of 20 summit.
Cautious China backs G20 coordination; EU proposes bank rules
By Simon Rabinovitch and John O’Donnell
BEIJING/BRUSSELS, Sept 23 (Reuters) – China offered some support on Wednesday to U.S. plans to build a more balanced global economy, as world leaders seek to agree ways to nurture a tentative recovery and prevent future crises.
The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, with plans for a banking super-watchdog and a pan-European supervisor that it hopes can be replicated on the global stage.
EU banks must have cash buffer for crisis – regulators
By Huw Jones
LONDON, Sept 22 (Reuters) – Banks in the European Union must have a cash buffer to survive the first month of a crisis, regulators said on Tuesday, sparking industry concern that cross-border groups will face a new patchwork of rules.
U.S. to push for new economic world order at G20
By Alister Bull
WASHINGTON (Reuters) – The United States wants world leaders to agree this week to launch a major rethink of the world economy in November as they try to strengthen the global economy after its near meltdown.
COLUMN-”Tobin tax” gaining ground in Europe: Paul Taylor
By Paul Taylor
PARIS, Sept 21 (Reuters) – No longer just a hopeless cause for anti-capitalist activists, the idea of a global tax on financial transactions is gaining ground in Europe.
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